EUR/USD - 1.3485.. Fed's intention not to rock the market by announcing a quarter-point discount rate hike at 21:30GMT created 'pandemonium' in the forex market. Euro nose-dived fm 1.3617 after the breaking news n tumbled to as low as 1.3443 just b4 Asian opening. St. Louis Fed President James Bullard said that 'market belief in rate hike chances this year overblown' sparked a brief wave of short-covering. Euro bounced back to 1.3509/10 b4 easing n expect choppy n nervous trading until Europe comes in later. Sentiment remains bearish on the single ccy with offers fm 1.3500-30 region n remember our 2010 motto, 'sell euro n wear diamonds' !
Thursday, May 23, 2013 As of 5:59 PM EDT
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