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U.S. Dollar Crushed This Week after Fed Hints at More Economic Aid

Discussion in 'Forex Daily News & Outlook' started by forextrends24, Sep 27, 2010.

  1. forextrends24

    forextrends24 New Member

    Mar 27, 2009
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    Today’s sample of Forex Analysis from ForexHound.com

    The U.S. Dollar finished sharply lower this week after the Fed strongly hinted that it would provide more aid to prevent the economy from derailing. Foreign currency investors reacted as if the Fed had given them the green light to sell the Dollar, delivering a crushing blow to the greenback against all major currencies.

    Many investors now feel based on the tone of the Federal Open Market Committee’s statement that it was getting ready to rev up the Treasury printing press for another round of quantitative easing in November.

    The USD JPY finished the week lower after ending last week in a position to breakout to the upside. The break in the Dollar/Yen triggered a retracement of the entire “intervention rally” from over a week ago. The inability to follow-through to the upside may have served as further proof that interventions are hard to pull-off without the help of other central banks.

    Read full article at ForexHound.com as well more Forex Trading articles including Forex Technical Analysis and Forex Education

    Disclaimer: Trading foreign exchange on the margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore should not invest money that you cannot afford to lose.

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