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NZD

Kiwi Swings To Weekly Gain

US TSYS

Steeper & Cheaper

AUSSIE 10-YEAR TECHS

(Z1) Bearish Price Sequence

AUSSIE 3-YEAR TECHS

(Z1) Off Recent Highs

ASIA

Coming up in the Asia-Pac session on Friday:

MNI

Coming up in the Asia-Pac session on Friday:

DOLLAR-YEN
DOLLAR-YEN: Late Friday Goldman Sachs wrote that "we expect the market
environment to become less Yen-positive in the months ahead as risk conditions
stabilize. While the US economy is slowing down, recession risks still appear
moderate and the shift from the Fed should continue to support markets on the
margin. At the same time, US real rates could decline somewhat further,
particularly at the back of the curve (which we find are most correlated with
USD/JPY). Therefore, we revised our 3, 6 & 12 month USD/JPY forecasts to
108/107/105 (from 112/110/108 previously). Although these forecasts imply close
to zero total returns for the Yen over the next year, we continue to think JPY
should be held as a portfolio hedge."
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com