The steps taken by the Federal Reserve's FOMC are significant, will initially pressure the US dollar
- yen and the euro will be supported temporarily
- measures will dampen the recent liquidity and funding strains
- for broader markets, while the measures are very significant (will assist in holding off bigger funding and liquidity strains) its likely they cannot offset the broader health and credit concerns
- Expects US Treasury may announce additional measures soon
Comments from Citi global head of currency analysis
