Dollar Hit Following Fed Announcement (FXE)

September 13, 2012 12:43 PM EDT Send to a Friend
Currency traders are reacting to today’s announcement by the Fed for additional quantitative easing. The Fed announced today they are planning additional assets purchased totally $40B per month, targeting mortgage backed securities.

The reaction in currency markets was extremely volatile immediately following the release. As the smoke clears, the dollar is trading lower against the Euro (EUR/USD) and the dollar index declined.

CurrencyShares Euro Trust (NYSE: FXE) is the related ETF.


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