$$ Morning Report: Steady start to week as Gaddafi loses grip
Morning Report: 08.15 London
• It’s been a fairly steady, unspectacular start to the trading week with no major movement throughout the Monday Asian session. In Libya, the rebellion appears to be getting closer to deposing Gaddafi, though the leader still shows no signs of stepping down gracefully.
• The US dollar is slightly weaker in early trading with commodity heavy USD/CAD pushing to its lowest level since Feb 28th 2008.
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• The yen is also showing signs of slight weakness as investors ease their demand for safe havens. The EUR/JPY appears to be holding above support at 112.00
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• Gold is higher this morning but has retreated from its morning peak of $1416.40.
• It’s been a quiet start to the trading week for the Japanese yen with the USD/JPY unchanged through the Asian session. The trading calendar offers few highlights, but the geopolitical situation is still fluid so there may still be some significant activity to come today.
