FXstreet.com (Barcelona) - As the markets expected, the fed cuts the rate by 25 bps. The fed considers that the Us economy such as the credit crunch, the weak housing outlook and inflation risk is getting stabilized. Having received the fed announcement, the US stock prices moved down once. However the stocks move backwards to the same level as before.

Meanwhile EUR/USD hit a record high at 1.4505, now fluctuating between 1.4481 and 1.4505. EUR/JPY jumped up to 167.28 from 166.18.