FXNEWS-Fed action to help risk appetite
Tue, Oct 7 2008, 13:45 GMT
http://www.afxnews.com
- "Fed annoucement to act as a backstop in the CP market is likely to have a positive reaction in regard to sentiment. Although there has been a lot of talk and discussion of this happening over the past few days/week, I think markets will still take this announcement well," said Dustin Reid, senior currency strategist, at RBS Greenwich Capital. "This should help highly-rated companies' ability to raise short-term paper and help take away concerns that some in the market might have had about counterparty risk. In terms of FX, it should help risk appetite on the margin, which is likely why we are seening a USD sell-off here."
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