Initially it provided a basis for people to take profits on their dollar shorts because what the Fed was saying was they may not know with certainty that they will pause (in raising rates) and ....therefore there's no reason to get your groove on and sell dollars.
More Quotes from Andrew Busch:
The market is disappointed the ECB is not doing more on the interest rate front to support its currency.Andrew Busch
The comments coming from the Fed are focused on inflation and have put a rate increase in March back on the table. That will support the dollar.
Andrew Busch
In general if you see oil, gas natural gas and gold all selling off you know the Canadian dollar is probably not far behind.
Andrew Busch
If you take the two together, you didn't miss by much. Initially, there was a little bit of dollar selling then it was bought back.
Andrew Busch
People are coming to the realization there is a very high likelihood that the BOJ next week are going to stop quantitative easing or begin to unwind it, and there is a lot of market focus on Japan CPI data later this week.
Andrew Busch
Today's jobs number would support the idea of a soft landing, or at least moderation in growth.
Andrew Busch
Readers Who Like This Quotation Also Like:
For me, it's all about The Dubliners by James Joyce. I love The Dead.Evan Dando
Artists usually don't make all that much money, and they often keep their artistic hobby despite the money rather than due to it.
Linus Torvalds
In a sad twist of fate, the bill to reauthorize the Patriot Act was debated on the floor of the House of Representatives the same day that terrorists struck again.
Jim Sensenbrenner