There was no help for the USD from its central bank on Wednesday, with the Fed coming out with an even more dovish monetary policy statement than the markets had been anticipating. Overall the language in the statement was the same, with the key change coming from a scaled back outlook on the recovery in the US economy. The adjustment of the language which previously described the economic recovery on firmer footing to an economic recovery proceeding at a moderate pace was enough to inspire yet another round of broad based USD selling, with the Euro leading the charge and inching closer to next key topside barriers by 1.5000.
The ensuing price action negated a very impressive bout of… Full Forex News
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Euro, Franc and Aussie Eye Next Key Barriers; In-House Indicator Fascinates
April 28, 2011
By Forex-MasterCalendar
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