FED between a rock and hard place.....hard to attract buyers of dollars when they pay next to nothing i-rate in and "risk" is exploding across the US economy. i-rate needs to go up or dollar will continue to fall.
yep, and they've shown no interest in combating inflation which must be pissing of the Chinese too. Entirely predictable but a disaster for the Fed, they should never have cut last week. Gisele in for Bernanke I say.
I was long AUD/USD for the interest rate announcement down there, lucked out on this move. Wonder what the longer term affects of Chinese diversifying would be on the Ozzy..?