Daily Forex Commentary for June 25, 2009

June 24th, 2009 • Related • Filed Under




Wednesday, June 24, 2009

The Fed ended much of the uncertainty in the Forex markets today when it announced that its key lending rate would stay between 0 – .25%, and there would be no additional expansion of its balance sheet through the purchases of government assets and mortgages.

Although it did not set a hard calendar date for a hike in interest rates, refraining from additional purchases of assets sent a signal to the markets that it would allow yields to rise. This scenario created the bullishness in the Dollar after …
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