EUR/USD rebounds from Asian slide to 1.1069

The EUR/USD spiked higher last night, as the Fed cut their Fed Funds rate by 0.50%. The Euro lifted immediately upon seeing that and subsequently reached a high at 1.1189. Perhaps given the nature of that Fed cut, the Euro should have done better, but in the event it was unable to vault the 1.1202 high it had set on August 26. The fall back that followed into the US close saw it test the 1.1100 handle. The Euro closed in the US at 1.1119. However, another fall in Asia today came as the USD/JPY moved close to 144. The EUR/USD fell back to 1.1069 earlier today, but as with the GBP/USD, it has rebounded off that low now and recovered back above 1.1100. The high seen not so long ago was set at 1.1135. As for where to now, much will depend on what the USD/JPY does from here on. The EUR/USD is currently trading at 1.1133