It s a terrible figure in 11.00
ISM PMI 44.4....usdyen was sold so did x/yen
however, news came out a sec b4
23:00 05Nov08 RTRS-FED TO ALTER FORMULA FOR PAYING INTEREST ON EXCESS BALANCES BANKS HOLD AT FED, EFFECTIVE NOV 6
23:11 05Nov08 RTRS-Fed to cover more on banks' reserve deposits
WASHINGTON, Nov 5 (Reuters) - The Federal Reserve said on Wednesday it is altering a formula it uses paying attention to reserves that banks maintain with it, effectively offering more to induce banks to do so.
Formerly, the rate required reserves was the average target federal funds rate above a reserve maintenance period minus 10 basis points but it now will be put equal to theaverage federal funds rate over the period.
The Fed also said it was altering the formula for excess reserve accounts that banks hold with it. The rate was the cheapest federal funds target rate, minus 35 basis points, but it now will be put in the lowest target rate in effect in a maintenance period that can run for a few weeks.
The change is effective Nov. 6, '' the Fed said.
DAMIT...I dunno n my my ldn buddy said
FED LIFTS RATE PAID ON BANKS' RESERVE BALANCES FOR A 2ND TIME
good for x/yen
it s a jolt to a guy just brief stgyen in 158.50. . .but it went up to 158.99-04...I cut then turn at 30 which is 159
then discovered us guy bidding in ebs. . .100 given paid 100 more...
anyhow, I overlooked 160.63 hi but nevertheless can get out in next move 160.50
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