Dollar Hits Record Low

The Fed drops rates by 50 basis points to 4.75%. One month ago the interest rates futures markets priced in a 0% chance this would happen. It happened. Without the high return on the dollar the currency value plummeted to new lows.

The Canadian Dollar is at a thirty-year high against the dollar, where now the USD buys less than $1.02 CAD. The Euro buys almost $1.40 USD, the highest it's been since the beginning of the Euro.

Markets are on fire right now. The CAD/JPY rallied an amazing 700 pips since last week, and over 100 within the last hour.