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21/08/2008, 09h43
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Short term dollar reversal expected
USD/JPY fell to low of 109.02 earlier this morning. Japanese securities houses and others were selling and pushed the pair below 109.50 where stops beneath were triggered. Traders say that this big move down was due to thin market.
Dollar slips further as the market expectations for a sort term reversal rise. Oil and gold prices are gaining ground, falling stocks and concerns about the health of two US mortgage giants Fannie Mae and Freddie Mac pushes dollar selling. USD/JPY continued to drop touching 108.64, EUR/USD and GBP/USD is up touching 1.4832 and 1.8702 respectively.  
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