July 18th, 2008

South Africa

Eskom has shifted from maintaining its credit rating, to just wanting to maintain an investment grade rating

EURZAR breaking 12.00 even with AUD and NZD weakening

Foreigeners net sellers of equities and bonds so gains must be on back of corporate deal or interest rate sensitive flows

Singapore

Well supported at 1.3500 handle; resistance at 1.3540, support at 1.3483

Thailand