There have been mixed reports to how much assistance that they have received the latest figure of 85 billion dollars was mentioned.
The Fed have left interest rates on hold at 2% overnight despite predictions from analysts that they would reduce rates to 1.75%. There was much volatility in the market again yesterday as news was released with the dollar trading one way then the other.
The Japanese Yen has had a couple of good days as it has been purchased as a risk aversion against many pairings. The commodity currencies such as the Australian and New Zealand dollars recovered some of it’s losses from the previous days trading but with the oil price coming down they are still looking a bit vunerable.
Sterling traded quite strongly yesterday after higher than expected CPI numbers which showed that inflation is running at 4.7% which indicated that rates would not becoming down in the near term.
Today in the UK we have the minutes from the last BOE meeting and average earnings released. There is a lack of data due from the Eurozone today but there are figures to look out for in the US are housing starts and building permits which will show if there is any change in the US housing market. There is also a Fed official speaking later today in the US.