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Dear Fed, Desperate Times Call for Desperate Measures?

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TODAY'S BIGGEST PERCENTAGE MOVERS

THE STORIES IN THE CURRENCY MARKET

EXPECTATIONS FOR UPCOMING FED MEETINGS

CURRENT US INTEREST RATE: 0.25%
09/20 Meeting 11/02 Meeting
NO CHANGE 72.0% 72.2%
CUT TO 0BP 28.0% 27.8%
HIKE TO 50BP 0.0% 0.0%

DEAR FED, DESPERATE TIMES CALL FOR DESPERATE MEASURES?

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EUR: RISKS FOR THE EURO

GBP: BOE MINUTES TO REVEAL LITTLE

CAD: BIG BENEFICIARY OF DOLLAR DUMP

It has been a mixed day for the Japanese Yen which traded higher against the euro and Swiss Franc but weakened against all of the other major currencies. With no major economic data released last night, 76 continues to be rock solid support for USD/JPY as investors worry about the possibility of intervention. Earlier this week, there was chatter that the BoJ could be checking rates but with USD/JPY not seeing any fresh moves to the downside, the central bank could hold off on further intervention. However this may not b enough for general populous. The Japanese ruling party called on the Finance Ministry and the Bank of Japan to strengthen their ties and work together to address the Yen's rise. They want the central bank to ease monetary policy appropriately and to establish a fund to address the problems caused by the Yen's rise. The Cabinet is scheduled to release their monthly economic report next week and it will be interesting to see if their sentiment has changed. We also have leading indicators, department store sales, and the trade balance scheduled for release. Although these numbers are important in gauging the overall health of the Japanese economy, USD/JPY will take its cue from the FOMC meeting.

NZD/USD: Currency in Play for Next 24 Hours

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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