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Forex: Dollar rises against the Yen after the FOMC decided to leave rates unchanged

Wed, Nov 4 2009, 19:33 GMT
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FXstreet.com (Córdoba) – The Dollar jumped against the Yen after the FOMC decided to leave rates unchanged. USD/JPY rose from 90.80 to 91.27 posting a fresh intra-day high. But the pair then pulled back to the 91.00 zone after finding resistance near 91.30.

On the upside the next resistance lies at 91.60 (Oct 29 highs). Against European currencies the Yen is falling further after the FED’s decision but at a moderate pace.

The FED decided to leave rates unchanged at historic low levels between 0 and 0.25%.

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Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading and seek advice from an independent financial advisor if you have any doubts.

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