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The Federal Reserve has slashed the funds rate not just with a 0.75 basis points but in fact to a range between 0.00% and 0.25% to combat recession, starting a new phase for economic policy, keeping rates “exceptionally low” and with lending programs financed by the Fed’s ballooning balance sheet. Also called quantitative easing, Bernanke said that with such low rates, a new weapon is needed to ensure growth and there it is the provision of liquidity. In the meanwhile majors rose against greenback and become closer to probable break levels, (except by GBP that by the way, gave the expected 100 pips rally). Tomorrow I will add longer term charts view, to see if we can decide whether this is a correction, or a renewed dollar bearish rally.
See you then!
SELL gbpusd, if you ever wanted to get on this move(which still has a long way to go (down) then this is the bears opportunity. All thats bad in the states is there for everyone to see,its at rock bottom and not much more to come out(in my view), watch for the skeletons in the uk closet next two years. Finance(based on debt lending), boom over no more investor willingness to boost this part of the market. PRODUCTION, PRODUCTION, PRODUCTION (aka thatcher)
What have we got to produce? Nothing! err financial capital of the world…. yeah cheers helps us now.
Be careful all.
good luck
Hi Dan! Great comment here, tks for sharing with us.
Regards
Val