GBP/USD rose during the session to the 1.60 level as an official from the Bank of England suggested that further quantitative easing may not be necessary. This of course was positive for the Pound, and this pair...
USD/JPY rose again on Wednesday as the Dollar gained against most currencies. The “risk off” trade came into play in full force after several central banks essentially said there may be less quantitative easing than expected.
The EUR/USD pair essentially fell off of a cliff on Wednesday as the Federal Reserve Chairman rocked the markets by not suggesting any form of quantitative easing during his congressional question and answer session.
Following a hectic trading day yesterday, which eventually saw the euro tumble against its main currency rivals, traders can once again expect market volatility today.
