- Analytics
- News and Tools
- Market News
- European session review: USD remains under pressure after Fed's unexpected aggressive move
European session review: USD remains under pressure after Fed's unexpected aggressive move
| Time | Country | Event | Period | Previous value | Forecast | Actual |
|---|---|---|---|---|---|---|
| 11:00 | Germany | Bundesbank Monthly Report |
USD traded lower against most major currencies in the European session on Monday, but its initial decline, triggered by the U.S. Federal Reserve's unexpected decision on Sunday to cut interest rates to 0%-0.25% (the lowest level since 2015) and launch a massive $700 billion quantitative easing program (QE), was tempered somewhat.
The U.S. dollar index (DXY), measuring the value of USD relative to a basket of foreign currencies, dropped 1.02% to 97.75.
The latest Fed’s action came after it announced another emergency rate cut earlier this month. Rate cuts typically weigh on the currencies by making investments in them less attractive.
Meanwhile, JPY and CHF, which are seen as safer havens, strengthened as traders sought safety amid lingering worries the coronavirus will slow economic growth.
© 2000-2025. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
