21 Sep '11, 10pm

Currency markets shrug off Fed decision: NEW YORK: After weeks of anticipation that the Federal Reserve would mo...

NEW YORK: After weeks of anticipation that the Federal Reserve would move again to spark the US recovery, the announcement on Wednesday did not appear to instil confidence in currency traders that brighter times are ahead. As Federal Reserve unveiled a $400 billion stimulus plan to reduce long-term interest rates, the dollar rose, indicating a flight from riskier currencies and a thumbs down to the Fed's efforts. "Based upon the reaction in the financial markets, investors don't believe that this will be enough to promote growth in the US economy," said Kathy Lien, director of currency research at GFT. "The Federal Reserve meeting is now behind us and the central bank's feeble attempt to stimulate the economy has proven to be a big disappointment for the markets," she added. "Not only has US equities fallen sharply following the FOMC meeting, but risky currencies plunged a...

Full article: http://www.channelnewsasia.com/stories/afp_world_business...

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Anticipation.

Anticipation.

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