Global equity markets are firmly in the green today and the dollar has dropped with markets seemingly reacting positively to the Federal Reserve’s announcement yesterday that it would effectively conduct unlimited asset purchases (QE).
Sterling and the Australian Dollar have led the charge and are both up about 1.7% versus the Dollar in the past 24 hours. The EUR/USD cross is up a more modest 0.7%.
Markets largely ignored the release this morning of record low Eurozone and UK composite PMI data for March and focus is now likely to turn to a scheduled meeting of Eurozone finance ministers later today.
