Forex - Wallstreet Meltdown is now ubiquitous and widespread, Asian and European markets down - Forex Forum

 
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> Forex - Wallstreet Meltdown is now ubiquitous and widespread, Asian and European markets down
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post Sep 16 2008, 1:00
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Tsunami, cataclysm, meltdown – a plethora of superlatives can been used to qualify yesterday’s news which took the financial world by storm. Between the Lehman Brother’s chapter 11 bankruptcy, Merrill being taken over by Bank of America currency markets reacted in desperation as the Dollar initially took a dive against majors. The EURUSD rose as high as 1.4481 in the early hours of Monday’s Asian trading session as news of a crisis on Wall Street began to seep through – a 1.8% jump from Friday’s close.
The ensuing debacle on AIG’s uncertain future and the imminent FOMC rate decision to be the focus of today’s trading session.

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