Pushing Back

Last Update: 03-Nov-09 11:22 ET

10-Yr: -07+/32..3.443%.. USD/JPY: 90.2650.. EUR/USD: 1.4658

Pushing Back: The dollar had been holding better on the euro and yen before recently getting hit, as gold took off and the buck was twisted back on offer. The index was up 2.5% from recent lows but has been dunked from near 76.80 back off to 76.44, while treasuries got knocked of to new lows, with inflation sensitive long bond leading. The euro had been dropped off to early October levels, while sliding to get just 131.70 yen from near 134.50. Technical trade helped propel gold through to record highs on some speculation that after India paid up for its planned chunk of the metal from the IMF, increases expectations that China may be coming in for a large buy as well. The metal ran to trade 1081, jumping 2.4% from early lows, now 1079.10 (+19.57). Crude has been backing off after a push to near 78.50, now 77.92 (-0.21).

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