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Fed said it was cutting rates

Fed said it was cutting rates | 04 March 2020

04 March 2020, USD/JPY

Fed said it was cutting rates

USDJPY trading plan:

Fed said it was cutting rates by a half percentage point to a target range of 1.00% to 1.25%. The Committee also directs the Desk to continue conducting term and overnight repurchase agreement operations at least through April 2020 to ensure that the supply of reserves remains ample even during periods of sharp increases in non-reserve liabilities, and to mitigate the risk of money market. U.S. President Donald Trump said a half point cut was not enough. Finance ministers from the G7 group of rich countries were ready to take action, including fiscal measures where appropriate, Japanese Finance Minister Taro Aso said. Central banks would continue to support price stability and economic growth.

Trading recommendation: range 107.25-107.75.

David Johnson
Analyst of «FreshForex» company
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