January 27, 2010
FOMC Economic Outlook Boosts Dollar
The U.S. Dollar rallied to a new high for the year after the FOMC announcement offered an upbeat assessment of the economy.
While just about everyone knew the Fed would keep interest rates unchanged at near 0% for a prolonged period of time, traders did take note of the change in Fed language when it said
“the pace of economic activity is likely to be moderate for a time.” This was better news than the statement in December which …
