Kathy Lien is Director of Currency Research at GFT, and runs KathyLien.com.
Kathy has a Bachelors degree in Finance from New York University. Kathy has written for Stocks and Commodities, CBS Market Watch, ActiveTrader, Futures and SFO Magazine. She is frequently quoted on Bloomberg and Reuters and has taught seminars across the country. She has also hosted trader chats on EliteTrader, eSignal, and FXStreet, sharing her expertise in both technical and fundamental analysis.
The US dollar extended yesterday’s losses as Asian and London traders joined the markets overnight and repositioned themselves on the back of the less hawkish Fed comments.
Buckle up for an exciting trading day tomorrow. With the market juggling a variety of different scenarios, the one thing that we can be almost certain of is that the Federal Reserve’s monetary policy meeting will cause a breakout in the US dollar.
The US dollar is slightly weaker today, but for no reason other than continued consolidation. With less than three days until the FOMC meeting, traders are managing their positions cautiously as this week’s meeting could prove to be one of the more volatile meetings that we have seen in months.
It has been a great day for the US dollar. The greenback rallied against all of the major currencies, delivering to us the biggest one day move among most of the majors this week.
The foreign exchange markets have been extremely quiet today with the dollar giving back a nominal portion of yesterday’s gains. Overall, dollar strength remains dominant.
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