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10 Sep 2013

Syria yields to calls for disarmament

FXstreet.com (Barcelona) - Syria’s Foreign Minister Walid al-Moualem announced on Tuesday that the country would accept Russia´s proposition to hand over its chemical weapons and place them under international control in order to “remove the grounds for American aggression.”

The Associated Press reported that Russian foreign minister Sergey Lavrov was already determining the course of action with Walid al-Moualem. Iran and China have already sanctioned the solution, while the UK, France and Germany welcomed it with reserve.

Adam Button from Forex Live believes however that the danger had not been headed off: “Initial signs from the Obama administration were cool on disarmament but later Obama warmed up to the idea. I suspect the administration still wants the bombs to fall.

“The inevitable snag is logistics. It will be impossible to account for all of Syria's chemical weapons and it may well be impossible for the UN or some other force to contain them in the middle of a civil war. It comes down to what the US wants.”
Sep 10, 2013

Flash: Syrian situation remains tenuous ahead of vote Wednesday – Deutsche Bank

The situation in Syria remains fluid as President Obama said in an interview with major media networks yesterday that a proposal to get Syria to surrender its chemical weapons to an international body is a “potentially positive development” and that a diplomatic solution remains his preferred course of action, notes Macro Strategy Analysts J. Reid and C. Tan at Deutsche Bank.
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Sep 10, 2013

USD/JPY consolidates above 100.15 in the American opening bell

After breaking the 100.20 resistance and reaching the highest level since July 24 at 100.35, the USD/JPY remains trading sideways in consolidation mode just above the 100.15 price.
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