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Currency Markets Rekindling US Dollar Strength After FOMC Statement
The strength of the US Dollar has been stalled out ahead of the FOMC statement. In fact in the hours ahead of the risk event, traders abandoned long USD positions especially in the EUR/USD and GBP/USD and a little bit in the USD/CHF. Against commodity currencies however, it remained strong as we saw the AUD/USD and NZD/USD slide while the USD/CAD pop to parity before settling. The FOMC has chosen to adopt the most aggressive scenario for Operation Twist. In a $400 billion operation, they’ll be selling the short end to buy the long end. As expected, the same troika of dissenters opposed this action. Moments after ... (full story)
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