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Forex Flash: S&P 500 dips on Cyprus news but remain clear out performer on YTD basis - BTMU

Derek Halpenny, European Head of Global Markets Research at the Bank of Tokyo Mitsubishi UFJ notes that the S&P 500 did take a knock from the news from Cyprus yesterday, declining by 0.55% although the index remains the clear out-performer in dollar terms on a year-to-date basis, up nearly 9.0%.

He writes, “The key event this week in the US comes tomorrow when we have the FOMC and press conference from Chairman Bernanke. We fully expect Bernanke to play down the idea of QE being tapered down, especially in the wake of renewed uncertainties related to the eurozone debt crisis. That should limit the upside for the dollar through the remainder of the week.”

Forex Flash: EZ FinMins insist the Cypriot Gov need to raise EUR5.8bln - OCBC Bank

OCBC Bank analysts note that in a statement by finance ministers in the Eurozone, the group continues to insist that the Cypriot government needs to raise EUR 5.8bn from bank depositors to unlock the emergency loans as part of their bailout.
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Forex Flash: What to do with GBP/USD? – Commerzbank, UBS and RBS

The sterling is trading in a better mood on Tuesday in the wake of higher CPI figures in the British economy during February. The pound climbed from the area around 1.5075 to the boundaries of 1.5140...
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