What Crashed The Eurusd Today? - Forex Forum

 
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> What Crashed The Eurusd Today?
toros
post May 3 2006, 11:45
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What Crashed the EURUSD Today?

Today (May 1) was an interesting day to watch forex news headlines. In the morning hours U.S. time, major newswires ran stories saying that the dollar "hit a 11-month low against the euro on Monday as the Federal Reserve appears set to end a two-year run of credit tightening." But oops -- how ironic -- just as the story came out, around 9:30 AM the dollar started to gain, sending the EURUSD 130 pips lower by 4 PM. What gave the dollar the boost? Was it a misunderstood comment by Ben Bernanke, the new Fed chief? Nope. Was it this morning's strong U.S. personal spending report? Try again...

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