Macro Afternoon

by Chris Becker

Safe haven bets seems to be the repositioning meme of the day across the market watch websites, with Yen, gold and even Aussie dollar listed as places the smart money is going. Not sure on the last one as the first crack in the AAA rating wall was fired off by S&P ratings earlier today, which pushed the Aussie around a bit, but left it fairly well unchanged:

The wide hourly pin oscillated around the 75 handle and remains steady going into tonights session, but could be ready a little more bearish (and realistic) when The City opens. I better finish those overseas purchases I have in my eBay basket!