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.
Profit taking in the dollar today ahead of tomorrow's non-farm payrolls report has helped the EUR/USD recuperate approximately 50 percent of yesterday's losses.
With another 25 basis points under their belt, the Federal Reserve's not so subtle hints that they are still thinking about a quarter point rate hike in March has dollar bulls elated.
The dollar sold off significant today ahead of the Federal Reserve’s interest rate decision, but recuperated nearly of its losses after the announcement.
It is not unusual to see trading be very quiet the day before a Fed meeting, especially one where the market is not all too certain about what the outcome may be.
The dollar sold off significantly against the majors after the weaker than expected fourth quarter GDP report. The dollar then completely reversed and hit a new daily high against the euro.
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