| From IBTimes: The EUR USD rallied on Tuesday as the Federal Reserved announced a plan to buy commercial paper. This action amounts to a direct loan to businesses which puts taxpayers at risk.
The announcement of the plan almost immediately triggered buying in the EUR USD as traders perceived this as a gesture that could weaken the Dollar. The EUR USD also strengthened during a talk by Bernanke when he made comments which open the door to a possible interest rate cut. Look for traders to continue to buy Euros if the Fed goes ahead with its current plan to buy commercial paper..... Full Article: Source
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