Daily Forex Commentary January 26, 2010

January 26, 2010

Dollar Moves Higher in Lackluster Action; Traders await Fed Policy Announcement

The U.S. Dollar managed to hold on to its overnight gains despite a lackluster trading session. Following a couple of overnight events and intra-day economic reports, the Dollar
remained range-bound as many large traders stood aside ahead of tomorrow’s Fed FOMC announcement. Traders are looking for the Fed to leave interest rates alone and to continue to leave them low for
“a prolonged period of time.”

The Dollar surged overnight, driven by bearish …

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