Risk Appetite Dips ahead of ECB Meeting

While awaiting the first ECB meeting of 2012, investors moved cautiously on Wednesday. The market was in a modestly risk-off tone amid concern over a downgrade of French credit rating and talks over the Greek PSI. The latest Fed Beige Book indicated economic activity in the US expanded at a 'modest to moderate pace' from late November to late December. As shown in the Beige Book prepared by the San Francisco Fed, 7 districts recorded 'modest' while 2 reported 'moderate' growth late November to late December.

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Risk Appetite Dips ahead of ECB Meeting