It seems that yesterday`s Moody’s downgrade of Portugal has finally caught up to risk appetite. After a sleepy summer, US and early Asian sessions, we are starting to see heavy selling in risk correlated trades. EURUSD fell sharply to 1.4402 from 1.4467, while EURCHF, our European crisis barometer, dropped to 1.2101. Asia regional indices were in the red and the negative sentiment has spilled... ...More...


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