Intraday Market Thoughts

Archived IMT (2009.04.30)

by Ashraf Laidi
Apr 30, 2009 23:05

My March 20th piece analyzing the MAJOR FOMC ANNOUNCEMENTS of Sep, Dec and Mar each weighed substantially on the dollar But the effect was short-lived. On Wednesday's meeting, the FOMC dared not take a new rabbit out of its hat to prevent bond yields from hitting -month highs. Now the dollar is gradually back up as soaring yields in a recession are anything but desirable.


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