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FOMC Tapers $10 Billion, Why Didn't SPX Collapse and Dollar Surge?

FOMC Tapers $10 Billion, Why Didn't SPX Collapse and Dollar Surge?

John Kicklighter, Chief Strategist

Talking Points:

• In a heavily debated FOMC gathering, the central bank decided to Taper QE3 from $85 to $75 billion

• Economic forecasts show modest improvement and Chairman Bernanke suggests steady a steady Taper in 2014

• The seasonal fade in liquidity proves an effective curb to risk aversion, but don't write it off

Sign up for DailyFX-Plus to have access to Trading Q&A's, educational webinars, updated speculative positioning measures, trading signals and much more!

Watch the recording of John Kicklighter's coverage of the FX market's reaction to FOMC's announcement of the revered and feared Taper. Many market participants expected - and were positioned - for a first reduction in the QE3 pace for some time in 2014, but the central bank made its first $10 billion reduction (from $85 to $75 billion) today. Why didn't the overleveraged 'risk' markets collapse, and what does this mean for the dollar going forward?

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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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