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Breaking News: Fed Avoids QE Tampering, Dollar Pounded into the Ground

The Federal Reserve shocked the Forex market today as it made no changes to its monetary policy, avoiding stimulus tampering that everybody was expecting. The dollar came crashing down as a result.

Dollar Mostly Rangebound Ahead of Federal Reserve

The Federal Reserve is expected to make an announcement later today, and many Forex traders are waiting to see if a taper is on the way. As a result of this interest, the dollar is mostly rangebound today. Traders are positioning themselves ahead of the Fed announcement, hoping to be able to take advantage of whatever policy is shared.

Aussie Soft, Positive Fundamentals Limit Losses

The Australian dollar was a bit soft today after yesterday’s gains amid uncertainty on the Forex market caused by today’s announcement of the Federal Reserve policy decision. Losses were limited as domestic fundamental reports were favorable.

NZ Dollar Retreats as Current Account Deficit Widens

The New Zealand dollar slid today as the current account deficit widened last quarter and as investors were cautious ahead of today’s Federal Reserve policy decision.

Poor Economic Data Makes Dollar Soft Ahead of Fed Meeting

The US dollar was soft as worse-than-expected macroeconomic data made Forex traders speculate that the Federal Reserve may avoid tampering of quantitative easing or at least do it at a smaller scale than was expected previously.

Canadian Dollar Gains with Help from Manufacturing Sales

The Canadian dollar posted gains today with help from manufacturing sales and doubts about quantitative easing from the Federal Reserve that improved the risk sentiment on the Forex market.

UK Inflation Report Sends Pound Lower

The latest report on inflation out of the United Kingdom was disappointing, and is weighing on the pound. Without inflation to indicate economic growth and a need for tightening, the Bank of England is likely to continue its asset purchase program for a little while longer.

Dollar Rebounds After Decline

The US dollar slid yesterday, but managed to rebound and advanced today even though Forex traders felt uncertainty about future monetary policy of the US central bank.

Aussie Jumps with Risk Appetite, Loses Gains

The Australian dollar jumped today after investors’ appetite for risk bolstered riskier currencies. Yet the Aussie trimmed gains against the Japanese yen and retreated versus the US dollar as of now.

Euro Heads Higher on Summers Fed Withdrawal

Risk appetite is making an appearance, thanks in large part to the news that Lawrence Summers has withdrawn his name for consideration as the head of the Federal Reserve when Ben Bernanke’s term is up. The news has provided a boost for the euro, even though there are questions about the sustainability of the eurozone’s fledgling recovery.

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