Asia Session |
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It would be safe to say that the story of the session is the Federal Reserve coming to the rescue of beleaguered AIG, helping to appease fears of the insurance giant collapsing and sending ripples of panic globally. The Fed announced it would lend up to $85 billion in a two year plan and control up to 80% of the insurer; the dollar as well as equities reacted in a positive manner to the bailout. The Yen took a hit as players abandoned the ''risk aversion'' trades as a new confidence was found
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