Friday, 25 January 2008

The Fed did not know.......

From the Wall Street Journal:

Fed Still Comfortable With Rate Cut, Even if Rogue Trader Triggered Selloff
By Greg Ip

The Federal Reserve remains comfortable with its decision to cut interest rates Tuesday in spite of news today that the preceding stock selloff may have been related to a rogue trader, a Fed official said.

The official said the Fed didn't know of French bank Société Générale SA's unwinding of a rogue trader's positions when it cut rates. Nonetheless, the Fed remains as comfortable now with its decision ...


Anonymous said...

125 point increase in yield - look for the Kiwi to chunk 0.8500 and the Aussie to bust parity. Buy Kiwi wear diamonds.


Kiwi Trader said...


Take a look at my current currency positions I updated today.

The trend is your friend!