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Yen Crosses Fall as Dow Ends Worst Week of Trading in Over 100 Years

Friday, 04 January 2008 21:29:15 GMT

Written by Kathy Lien, Chief Strategist

The Dow dropped another 256 points today, making it the worst first week of trading in over 100 years.  Traders across the markets have become extremely risk averse as weak US economic data suggests that the outlook for the US economy could get materially worse before it gets better.  Given that the Dow ended the day at session lows and Asian traders have not had an opportunity to react to the NFP number, carry trades could be headed for more losses in the beginning of the new trading week. 

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