Wednesday, March 19, 2008

Daily Outlook - March 19, 2007

The Fed cut the key rate yesterday by .75 basis points. Analysts had expected a full percentage point. The move capped two days of extreme movement after the Fed made unprecedented moves over the weekend to address the credit market crisis. The trading system had been put on hold waiting for the market to calm down some. We will be trading the GBP/JPY and USD/JPY pair today but will hold off on the riskier GBP/USD trade strategy for today.