| From IBTimes: The EUR USD rallied on Wednesday after a coordinated interest rate cut by the U.S., Switzerland, Sweden, Canada, the U.K. and the Euro Zone. This move dropped U.S. rates down to 1.5% and took off some of the pressure to buy Dollars as a safe haven investment.
Furthermore, the Fed's announcement to sell more than $40 billion in debt to pay for the banking rescue package put further pressure on the Dollar. Despite the rate cuts, outside markets looked tentative on Wednesday as equity and treasury traders could not make up their minds as to the benefit of the cuts...... Full Article: Source
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