At its two day meeting that concluded yesterday, FOMC decided to leave Federal Funds Rate in 0.0% - 0.25% range. Disinflationary implications of slowing global growth, oil weakness and US dollar strength are the main reasons why the committee stood pat.
The dollar was sold across the board but it retraced most of its losses against the commodity currencies. Euro was the winner of the day as it rose nearly a cent and a half. Swissie and Cable both moved close to 100 pips on the day and Yen about …
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