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Wednesday 16 September 2009

JPY weakened a bit, GBP slumped on hints from BoE that interest rate should be reduced, however it looks that there was no significant news that would change anything. EU rises too fast, however I would hesitate with buying as retracement may show up. GU fell but it's far from bottom of channel @ 1.6050.
Weakening of JPY gave some rises even on UJ, but there is nothing certain here either.
I have no clue what to do in terms of trading. There is possible regain on GU as there is no big deal in terms of international currency trading about this interest hints. Just traders earning their money.

In general I think it's better to believe in recovery, but the only reason for that is the brighter future if this plan will work. If I was wrong on that - everything would plunge. Maybe it's just a kindness of those who believe in second slump of economy that they dont sell like crazy, just stay aside, but whatever reason it causes economy to be alive at least.

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