The Fed's recent announcement of QE3 has undoubted effects on financial markets; but what does it mean for Forex?
The initial reaction would be that it's bad for the US Dollar (UUP) (UDN) which was reflected in Friday's move of EURUSD (FXE) to above 1.31 against the US Dollar. But just last week, traders were expecting a collapse of the EURUSD as the European financial crisis deepens.
http://seekingalpha.com/article/870971-competitive-devaluation-of-currencies-what-qe3-means-for-forex
