The Federal Reserve Bank lowered their benchmark interest rate by a further quarter basis point taking rates down to 4.25% as it was widely expected in the financial markets, even the accompanying statement came out Dovish as the Feds highlighted increasing uncertainties in the outlook, yet the decision did not convince the investors as a huge wave of Carry Trades unwinding took place, but majors gained back today to make up some of yesterday's losses as rationality came back to investors' minds.
The Euro recorded a low of 1.4650 early this morning and started inclining afterwards to set a high of 1.4712.
While the Royal Currency gained back after acquiring huge losses yesterday, the Pound recorded a high of 2.0445 after recording a low of 2.0339.
The Yen gained heavily yesterday as investors reduced their Carry Trades yet it declined back against the US Dollar today, as the USD/JPY pair recorded a high of 111.17 after recording a low of 110.62 earlier today.
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