A part of the nobs network
US Dollar’s the big winner after the announcement cut apart from a few pairs which gained back its own momentum (like USDCAD)
Let’s see the few big movements.
GBPUSD
2.0516 to 2.0334 = 182 pips move
AUDUSD
0.8897 to 0.8711 = 186 pips move
USDJPY
110.76 to 110.46 = 130 pips move
So how many pips have you bagged? (I wasn’t around today to bag any, but I hope you did!)
To me it seems the Fed rate cuts are too huge, and all these are just the tip of the iceberg as things will be unraveling in the next few months. Remember when Alan Greenspan had cut the rates back in 2002? The Dow roared and rallied to what Bernanke had did just a day back.
But what happened after the Greenspan era was an almost 30% dip after the rate cuts. We’ll probably see something like this happening again.