Daily Forex Commentary for September 24, 2009

September 24, 2009

A Lengthy and Labored Recovery

The Fed FOMC left interest rates at near historically low levels while deciding it was too early to pull out of is current stimulus plans. The Fed also said the economy was improving especially in the housing and financial markets. The FOMC also decided to slow down its debt buying plan by extending its program to purchase mortgage-backed securities into the first quarter of 2010.

U.S. equity markets reacted with a strong move to the upside but buying quickly dried up as overbought …
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