Economy
September 21, 2015
Currency Update for Steel Trading Nations
Written by Peter Wright
As readers are well aware, the Fed announcement on the 17th was a nonevent as far as interest rates are concerned. This morning as we examined the currency values of the sixteen steel trading nations that we track, it was evident that traders anticipated this lack of action around the 10th to the 13th and began to act in correct anticipation. In other words, anticipation of a rate increase that had been priced in went away. The dollar began to weaken at that time against all of them except Japan.
