Forex Trading: European Pairs Drop After Chinese Rate Cut

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Forex Trading: European Pairs Drop After Chinese Rate Cut

By Greg Michalowski on December 22, 2008 | More Posts By Greg Michalowski | Forex News By FXDD

The EUR/USD and GBP/USD took a hit directly after China cut rates yet again. The EUR/USD found some support at the 14 Hour MA while the GBP/USD hit session lows as the pair has dropped over 200 PIPS tonight since its session high.

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1 Comment :

Comment by jordan Subscribed to comments via email

2008-12-22 08:45:16

Hi,
Can you explain why EUR/USD and GBP/USD took a hit directly after China cut rates yet again? Why is it negative for EUR, GBP? Thanks

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