with the economic calender looking rather bare yesterday, the pair traded in a lackluster style in a range of roughly 80 pips. This week we will see data from US and also Ben Bernanke's testimony. The fed surprised the market by raising the discount rate last week, following this they had tried to reassure that the fed's rate will still be kept low for an extended period of time, well, this does sound like some broken record and worse still the broken record is playing some false tunes huh ? well, the most important cue here is that the fed is now beginning to implement an exit strategy which might be a positive news for the Dollar. Well, if this adds to the dollar strength will we see another round of sell-off in the risky assets or will we be expecting another leg of bull rally coming soon as investors view this as a sign of optimism in the global economy recovery? We will see soon enough!
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