New York Session |
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The USD fell off its perch today as the Fed voted to cut rates by an additional 25 bps to 2.00%, and signaled that additional rate cuts would be made as needed, largely fulfilling the markets expectation of a 'one and done' move from the Fed. However, the Fed's economic assessment pointed to ongoing US weakness, noting that economic activity remains ''weak'' and that labor markets have ''softened further.'' The overriding impression is that the US downturn will be longer and deeper
Filed under: Technical
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