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5 Mar 2013
Forex Flash: Monday morning’s risk blues are blown away by easy money, yet again - Societe Generale
Kit Juckes, Global head of Currency Strategy at Societe Generale notes that the US equity market´s resilience and responsiveness to Bernanke´s magic may be familiar, but in none the less awesome for that.
He writes, “Sequester? Bah! Italian political gridlock? Humbug! The Monday morning blues that followed a weekend of poor news have been brushed aside and stocks are up, the dollar down across the board. Needless to say this doesn’t change strategic thinking much, if at all. It’s a reminder that selling expensive ‘risk on’ currencies and buying equities looks attractive, that’s all.”
He writes, “Sequester? Bah! Italian political gridlock? Humbug! The Monday morning blues that followed a weekend of poor news have been brushed aside and stocks are up, the dollar down across the board. Needless to say this doesn’t change strategic thinking much, if at all. It’s a reminder that selling expensive ‘risk on’ currencies and buying equities looks attractive, that’s all.”