Wednesday, January 30, 2008

Forex strategy : FX Market Awaits FOMC Rate Decision



FX Market Awaits FOMC Rate Decision The FX market traded in a narrow range on Tuesday ahead of the Federal Reserve’s interest-rate decision tomorrow. The greenback strengthened somewhat against most key currencies after US durable goods orders rose more than forecast, indicating the US economy may avoid a recession. Durable goods are volatile but still indicate US economic strength. Traders reduced bets for a 3.0% Fed funds rate slightly. We believe the Fed will cut the target lending rate 50