Forex Today: Central banks’ frenzy leaves a sour taste in traders’ mouths – by ValBednarik EURUSD XAUUSD CryptoCurrencies CentralBanks Recession
Several central banks announced monetary policy decisions following the US Federal Reserve meeting.which decided to keep its monetary policy on hold. However, not long after the meeting, the BOJ intervene in the FX market. The USD/JPY pair plunged like a rock, from an intraday high post-meeting of 145.89 to 140.34. It currently trades at around 142.40.hiked its benchmark rate by 75 bps. However, USD/CHF advanced, ending the day in the 0.9780 price zone.
Governor Andrew Bailey noted they would continue responding “forcefully, as necessary” to inflation, despite the risk of a steeper economic setback., in fact, cut rates from 13% to 12%. On the other hand, President Erdogan arranged a meeting with Russia to discuss an agreement on payment and possible sanctions. Moscow, in the meantime, threatened the western world with a nuclear war amid the latter help to Ukraine.
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