Nov. 24: MARKET REVIEW USD/JPY: rose to 118.00 after a dip to - TopicsExpress

Nov. 24: MARKET REVIEW USD/JPY: rose to 118.00 after a dip to 115.57. Yen declined a bit as polls showed Prime Minister Shinzo Abe’s party has the most support after he called early elections. Japanese public and market holiday today led to reduced liquidity during the Asian session. EUR/USD: gapped down, approaching the 28-month low of 1.2350, but recovered towards 1.2390. German Ifo Business Climate will be released at 9:00 GMT (forecast – downbeat). GBP/USD: edged up to 1.5670. AUD/USD: consolidates in the 0.8660/8700 area. Peoples Bank of China unexpectedly announced interest rate cuts on Friday, opening the way for more easing.

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