Market Moving News: USD/MAJ - Aug 10

By IBTimes Staff Reporter | August 10 2010 1:38 PM

Usd/majors - U.S. Fed repeated to keep rates exceptionally low for an extended period in 0% to 0.25% range as expected. It said that it will keep holdings of securities at current lvl by reinvesting principal payments from agency debt n mortgage-backed securities, n continue to roll over holdings of treasury securities as they mature. It also stated pace of recovery has slowed in recent months n inflation is likely to be subdued for some time. The greenback fell broadly after the announcement n the 30-yr U.S. government bond jumped 1-13/32 in the cash market, its yield hit a session low of 3.95 percent compared with 4.02 percent late on Monday.

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