Daily News | Federal Reserve under fire

On the second day of this global binary options trading week, we boldly continue onwards by looking at the most important economic data that could potentially influence the currency market. Today, we start things off by taking a look the euro. We are continuing to report on the story we wrote about yesterday, with Volkswagen and two of its manufacturers trying to reach an agreement. Because of this turmoil, the euro fell from Friday to Monday, from $1.1326 to $1.1314. The negotiations experienced a breakdown earlier today, but the two sides are reporting that they are trying to seek a solution. This dispute is affecting over 28,000 workers and we will continue to report on this story as it develops. As for the US dollar, it rose in the same time from €0.8828 to €0.8837. The Federal Reserve is still under huge pressure to reform its goals and system, so as to better reflect the diversity of America and its incomes. Community organizations and labor unions are clamoring for a more transparent and income-inequality aware central bank. They will look to build on their proposals and try to make the 12 regional banks of the Fed into government entities. The Federal Reserve is the world’s only major central bank to not be fully public. Of course, we will continue to write about this story as it develops.

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Author: Max Rothstein

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