Forex Space Ride

It was a hell of a roller-coaster ride last night after FED announced it's IRD (Interest Rate Decision) unchanged at 0.25%.

Two hours after that, the RBNZ released its own IRD that remains unchanged at 2.75%

EURUSD crashes to two-month low, amid hawkish comments from FOMC.  The FED sent strong indications that a rate hike will be on the table in mid-December when it meets next after a break next month. The hawkish stance sent the euro tumbling against the dollar, as it fell below 1.09 for the firt time since early August.  EURUSD traded in a broad range between 1.0897 and 1.1095, before settling at 1.0924, down by 120pips on the session.  The euro has now closed lower against the dollar in five of the last seven sessions.

USDJPY slingshot took a dip at 119.99 and hit high of 121.24, weaker by 125pips.  After the RBNZ it settled back to 120 level while closing at 121.07.  Today market opened at 121.07 and is currently playing at 120.68

Among the currencies  NZDUSD also took a drop from .6744 to .6620, changed by 124 pips and heading towards .6500.  Further, the New Zealand dollar fell in early Asia today as the central bank held steady on rates as expected, but called for a weaker kiwi, while the dollar firmed on expectations for a Federal Reserve rate hike at the end of the year.

Despite the Reserve Bank of New Zealand's decision to hold the rates steady it jawboned the currency lower by stating that lower interest rates would be required if the exchange rate remains high.