Dollar and yen rode on a wave of deteriorating risk sentiments last week and surged sharply across the board. Stronger than expected Q3 GDP from US triggered some optimism in the markets on Thursday but the impact faded on Friday

EUR/USD's fall from 1.5061 extended further to as low as 1.4682 last week. Subsequent recovery was limited well below 1.5061 and EUR/USD weakened again to close the week near to the weekly low. Initial bias is mildly on the downside

The dollar and yen ended a volatile week on a strong note on Friday. Risk aversion rose on growing concerns over the financial company outlook and the sustainability of the economic recovery. Personal income and personal consumption were weak as