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Fed Raises Discount Rate by 25bp
02/19/10 by Daily Forex Snapshots
Filed under Forex & Futures
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The dollar gained across the board late in the NY session, as the Federal Reserve unexpectedly raised the discount rate by 25bp. The EURUSD dropped to a 9 month low. The GBPUSD fell to 1.5402 and USDJPY rose to 92.00 before retracing slightly. While the Fed says the hike doesn’t signal any shift in economic or policy outlook, it would be odd not to see the move as such. We still expect the first… | ||||||||||||||||||||
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