$1.46 to the € and ¥88.7 to the dollar this morning.
That's compared with a $1.34 euro and a ¥91.2 dollar on Monday, before Tuesday's cut.
Nice post in Alphaville on that this morning:
To speculate against a currency - like the dollar - you need to be able to borrow that currency freely and cheaply.Wheee!
Now look at what the Fed is providing to the markets: unlimited amounts of dollars at close to zero cost.
