DTT Buzz

The US DOLLAR dropped against the EUR, CAD, AUD, after the Fed Rate Cuts, but rallied against JPY overnight. The US dollar trades the heaviest with the Euro and the JPY.

Right now the the EUR/USD is trying to push 1.40. If it breaks and holds above 1.40, it could ignite an even larger rally, which would further devalue the USD. The USD is walking a thin line with the EUR.

The surprising thing is that the USD is gaining strength vs the JPY? Who would have thought. Bloomberg reported today that Japanese exporters bought the USD after the Rate Cuts yesterday.

Things are looking much better with the USD than most predicted. Most thought that if the Fed drastically cute rates the USD would have experienced much more downward pressure, but Japanese exporters came to the rescue.


Happy Trading

Keith Greff Jr
Jr Trade Analyst