London Session - November 10, 2009 6:01 AM

The rally in risk that pushed US stocks significantly higher into the close last night begun to dwindle in Asian hours. Asian stocks closed higher on the day but well off their intraday highs and European stock indices are mixed to lower. EUR/USD pushed lower in Asian hours as stocks started to lose support. In London, USD sellers started to re-emerge as HSBC’s trading statement reassured investors but EUR/USD again fell back from 1.500 on the back of a worse than expected German Nov ZEW survey (51.1 from 56.0 in Oct). EUR/JPY had remained little changed from last night’s close through most of the session but jumped sharply mid-morning amid talk of a flow linked to a Sovereign bond flow allowing EUR/USD to move off its post ZEW low. Full text »