Global Equity Rally To Drive Forex Gains

In a positive sign for emerging market assets, the Dow Jones Industrial Average broke above the crucial 7,400 level we flagged up earlier this week (see March 17 2008, 7,400 Area Still Big Resistance For Dow). Having closed at 7,486 on March 18, the Dow has provided a bullish signal for Asian equities, which also extended their gains on the following day as risk appetite continued to make a tentative return.

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