As if to prove that last night's post-FOMC moves were as much down to thin liquidity as real change of direction, not to mention how fickle the world of forex is, we are seeing some decent retracement so far this morning
My thoughts on central banks needing to be cautious about raising interest rates are well documented here,but did Yellen/FOMC really say enough to justify such a reaction ?
Frankly no, and the Asian/early European moves are seemingly in agreement
EURUSD now down to 1.0685, GBPUSD 1.4825 with USDJPY rallies once again being tempered by Yen buying on the crosses but USDCHF is having no problem rallying well so far at 0.9950
USDCAD has posted 1.2667 while AUDUSD and NZDUSD have now dealt down at 0.7666 and 0.7403
Caution required but don't look too deep for answers. It really is that shallow right now
