Forex & Economic Commentary by Lloyds TSB

Recent measures to recapitalise global banking systems have raised confidence in financial markets, as reflected in sharp rises in equity markets and higheryielding
currencies. However, we are still in the very early stages and the onus will now be on fostering this new found conviction. In this regard, financial markets this morning will be closely watching the outcome of the Libor fixings for any signs of thawing in inter-bank lending. It is also a busy day for market sensitive economic data, which could influence interest rate expectations for upcoming central bank meetings.



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