11, October 2013

EUR/USD (a 4-hour chart)

EUR/USD (a 4-hour chart)

Yesterday, the market's focus shifted for FOMC minutes meeting on September 17-18, and Jannet Yellen who will become the next head of the Fed. The U.S. dollar was stronger against most currencies G10 ( except AUD and NZD). Sterling has suffered because of the weak UK economic data.

One of the biggest challenges Janet Yellen will face is to convince markets that there is a difference between the narrowing and toughening measures.

The Federal Reserve announced in the spring that it would minimize the program of bond purchases, meanwhile, Ben Bernanke would give the keys to his successor Janet Yellen February 1, 2014.

Against the backdrop of weak economic data the Fed's decided to hold off on curbing monthly purchases of $ 85 billion of Treasury bonds and mortgage-backed securities. Minutes of the meeting indicated that they expected to begin to cut them by the end of the year, but then it was not taken into account the damage of a government shutdown and debt ceiling.