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EUR/USD: Euro takes advantage of the FR decision
The pair EUR/USD is traded downward at the Forex currency market this morning, although decision of the Federal Reserve had been above all markets’ expectations.
By 9.00 MSK the Euro is at 1.3542 against yesterday’s closing level of 1.3572.So, according to the decision of the U.S. Federal Reserve Operation Twist system in the amount of $400 billion will be introduced to support American economy, it will include purchase of the long -term bonds and at the same- time sale of short term bonds for the amount of $400 billion. Interest rate was left unchanged in the range of 0-0.25% per annum.
The news about changes in the structure of the FR balance has made market anxious, although it had been expected: additional measures to further stimulate the economy from the regulator were predictable.In the follow up comments the US FR acknowledged that downward risks to the U.S. economy are still high, which only reaffirmed traders’ idea about slowdown in recovery.
Investors are going to estimate the situation during today’s trading session.Most likely the pair EUR/USD will not go beyond the range of 1.3480-1.3590 at the trading session on Thursday.
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