The Fed, ECB, BoE, BoC and SNB all cut their benchmark lending rates in a coordinated effort to stabilize global markets. However, markets initially show skepticism as to the moves effectiveness.
Stories to watch on DailyFX
· The emergency rate cut won't revive confidence alone. Even after a 50bp cut, markets still expect additional easing from the Fed. · See how our DailyFX Analysts' are positioning in the volatile yen crosses in the DailyFX Analyst Picks section. Send any comments or questions to jkicklighter@dailyfx.com.