Finally the decision came out, an inline with expectations decision actually, the Feds decided to cut their benchmark interest rates by a quarter basis point driving rates down to 4.50%, the Feds also decided to cut their Discount rates by a further quarter basis point making it 5.0%, the Feds stressed their worries regarding the still weakening housing market, and said inflation risks remains to the upside, and downside risks to growthÃ¢â‚¬Â¦
Majors impressed yesterday with both Euro and Sterling recording yet another new all times high, as the Euro recorded an impressive 1.4504, while Sterling decided to steel the lights by recording a remarkable 26-years high at 2.0821, yet the Yen didn't have the pace to compete as the U.S Dollar seems to have the edge, as the pair is being traded around the 115.50s.
After reaching the $1.45 level for the first time since it's been introduced, the Euro declined slightly today recording a high of 1.4475 and a low of 1.4455, as now we are waiting for the PMI Manufacturing for the month of October where September's reading came out at 54.9.
The Royal currency dropped from its 26-years high today, as the Pound recorded a high of 2.0809 and a low of 2.0775, today we also have the PMI Manufacturing for the month of October, analysts expect a slight drop from 55.1 to 54.5.
The Japanese Yen is still fluctuating against the U.S Dollar, while the USD/JPY pair is rising gradually, recording a high of 115.57 and a low of 115.17.