Here is a quick Forex updates with news from around the world which you can use in your trading activities:
1. The US dollar gained ground against the euro and Yen on Wednesday after the FED announced that is was leaving intesrest rates as they are. In addition, the FED removed its previous warning of predicted low inflation.
on Wednesday after the Federal Reserve’s Federal Open Market Committee left interest rates unchanged as expected but removed the warning that inflation could be undesirably low.
The euro dropped 0.8 percent and last traded at $1.3963, compared with $1.3995 before the Fed issued its statement. The dollar rose about 0.5% against the Yen and ended at 95.66 yen compared with 95.35 yen before the Fed announcement.
2. On the Swiss front, the Franc dropped against all major currencies after it became known that the SNB (Swiss National Bank) was selling the Franc and buying into the Dollar and euro.
I believe that we may be heading for a change of focus on the economic crisis. Until now it was the USA first and Europe second. I believe we may see that the crisis is actually worse on Europe in the coming months than it is on the US.
This may make things hard on the euro and easy on the Dollar. Of course, this is something which still remains to be seen.
