28 November 2008

End of month Usd buying at the Lon 4pm fix?

Due to S&P being down 10% on the month, there is guesstimates that today will bring 12-15 Bn Usd of Usd buying mainly vs Euro, Gbp and Aud. Last month it was widely talked about and discounted. This time it seems less discounted, although the amount is also about half the one in October. Expect heavy Usd buying as we approach the fix. Watch out for Usd selling post it. Hence, should be quite choppy price action around 4pm Lon time.

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