The Fed has cut the discount rate !

Hi Traders !

This update is just about forex market discussion on Fed intrest rate...

As few days back we already discussed that Fed can cut the rate any time which will impact directly on forex market so here is the update that:

The Fed Bernanke has cut the discount rate and the Fed funds rate by 0.50%, and this leads US dollar down by almost 100 pips, which is showing weakness against Euro and Major currencies in the forex market. The dollar fell to a record low versus the euro on Tuesday September 18th after the Federal Reserve cut its key interest rate by an aggressive half a percentage point to prevent the U.S. economy from weakening further on turmoil in the credit and housing markets.

The Fed said in a statement, "Today's action is intended to help forestall some of the adverse effects on the broader economy that might otherwise arise from the disruptions in financial markets and to promote moderate growth over time,"

So all the forex traders required extreme caution now a days on all data news...

Have a Nice trade !

Thanks and Best Regards
Fxforecaster Team

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