FX market shrugs off news of miltary action
MARKET NEWS
LONDON -- After a brief initial negative reaction, the launch of military conflict in Afghanistan last week barely made its mark on the foreign exchange markets.
And despite news of the American-led air strikes against Afghanistan, the US dollar was the main beneficiary in the currency markets.
"The initial reaction was risk aversion when news of the air strikes against Afghanistan was received," Will Rugg, senior currency analyst at Standard & Poor's MMS in London, told FX Week. "But against
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