Mid-Day Forex Technical Report – Yen Weakens Further on US Rate Cut Expectations

Forex Mid-Day Technical Report Yen Weakens Further on US Rate Cut Expectations Yen is the major mover in an otherwise quiet market today. Expectation of rate cut from Fed remains the major theme today after dovish comments from Bernanke. Interest rate futures are pricing an 100% chance of a 25bps on Dec 11. Global stock markets are boosted by such expectation which in turn trigger increased risk appetite and weakness in the Japanese yen, and to a lesser extent the Swissy Franc. A load of