FX Concepts’ Taylor turns bearish on US dollar
FX Concepts chairman John Taylor expects the dollar to weaken further after the Federal Reserve announced a fresh round of monetary easing to stimulate economic growth and job creation in the US.
The Federal Open Market Committee (FOMC) said on September 13 it would purchase $40 billion of agency mortgage securities a month until the US labour market shows signs of improvement.
The FOMC also announced Operation Twist would continue through the end of the year and pledged to keep interest rates
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