Friday, February 19, 2010

Fed Surprises Markets with Bank-Rate Increase in Bank Loans

The Fedreal Reserve decided to raise the rate it charges banks for loans. Doing this the Fed action also gave a boost in the U.S. dollar even against the weak Euro. Which increased from $1.3518 to $1.3613. Also gold prices droped $11 to $ 1.112.70. The market is now at a 28% chance of increasing by the end of this year. I dont know what to think of this move

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