FX Weekly: 29th November 2010

 All FX price action significantly affected by ongoing developments on Korean peninsula and anxiety over European budget deficits. High level of uncertainty regarding North Korean reaction and possibility of larger EU nations requiring funding (Iberia, Italy) 

 Strong EU PMI data and IFO survey were ignored by investors as broader geo-

political themes predominated 

 Elements of Fed minutes from Nov 2nd than previously thought. Effect on USD and US yields was minimal meeting indicate more dovish stance

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