Daily FX Report Thursday 5th November 2009

05 November 2009 @ 09:00 am EDT

Last night, the Federal Reserve decided to keep US interest rates on hold for "an extended period". Since the Australians raised their base rate earlier in the week, there was focus on whether or not the other major economies would follow suit. Post FOMC, the Asian markets were relatively quiet, but all eyes today will be focussed on announcements from the MPC in the UK and the ECB. The chart below shows the performance of EUR/USD since March 2009.

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