Trading the interest rate decisions can be very profitable if you follow the correct strategy. This week the Federal Open Market Committee lowered its benchmark funds rate by 25 basis points to a range of 1.5% to 1.75%. The Federal Reserve has also indicated it may pause rate cuts from here.
It may have taken time to play out, but after weeks of calling distribution finally the yen broke and crashed down +100 pips from our 109.30 Level.
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Nisha Patel
Live from the Platinum Trading Floor.