Forex Education Trading Strategies : Fed Cuts Rates 50 Basis Points to 4.75%

In New York trading on Tuesday, the dollar fell after the Federal Open Market Committee reduced the federal funds rate 50 basis points to 4.75%, while the discount rate 50 basis points to 5.25%. The commentary said: "Economic growth has been moderate in the first half, but tightening credit conditions has the potential to increase the housing correction and curb economic growth in general. Today's actions to help prevent some adverse effects on the wider economy