The US Dollar is somewhat mixed prior to today’s FOMC meeting. The new overnight high for the Euro failed to reach resistance of 1.4850. The Pound is aggressive against the US Dollar today, as all MPC members voted to increase the current asset purchase target to GBP200 billion. Some of the losses for the Pound have been recaptured, based on this news.
The US Dollar is gaining some ground against the Euro as the markets hinge on comments from the G-20 and today’s FOMC statement. The Fed will most likely use caution by not changing their previous statement that the Fed funds rate would remain at very low levels. Even if the assessment of the economy shows signs of improvement, they will want to avoid a double-dip by saying that things are starting to level out, as opposed to improving.
This entry was posted on Wednesday, September 23rd, 2009 at 9:21 am and is filed under FX Daily Squawk. You can follow any responses to this entry through the RSS 2.0 feed.
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FX Daily Squawk
The US Dollar is somewhat mixed prior to today’s FOMC meeting. The new overnight high for the Euro failed to reach resistance of 1.4850. The Pound is aggressive against the US Dollar today, as all MPC members voted to increase the current asset purchase target to GBP200 billion. Some of the losses for the Pound have been recaptured, based on this news.
The US Dollar is gaining some ground against the Euro as the markets hinge on comments from the G-20 and today’s FOMC statement. The Fed will most likely use caution by not changing their previous statement that the Fed funds rate would remain at very low levels. Even if the assessment of the economy shows signs of improvement, they will want to avoid a double-dip by saying that things are starting to level out, as opposed to improving.
This entry was posted on Wednesday, September 23rd, 2009 at 9:21 am and is filed under FX Daily Squawk. You can follow any responses to this entry through the RSS 2.0 feed. Responses are currently closed, but you can trackback from your own site.