Tuesday, August 08, 2006

FED holds rates steady

As expected (by just about everyone) the FED kept interest rates steady after raising rates 25bp for the last 17 meetings. The key line to me is:

Core inflation has been elevated but Inflation pressures likely to moderate over time.

This to me is a more dovish statement then anticipated.

I remain in my positions (short Usd) although at the moment they do not look to good.



Anonymous Anonymous said...

Good call....I am sitting short dollars too, see what happens

4:21 PM  

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