Breaking: USD rocks as Fed cuts rates

-- more to come

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The Federal Reserve was expected to cut interest rates for the third time in a row and the all within a span of three months. Jerome Powell, Chairman of the Federal Reserve, described that first July reduction as a "mid-cycle adjustment" – playing down its importance. However, further moves that came amid concerns about the global economy already looked more worrying.

Today's fresh Gross Domestic report for the third quarter has shown a marginal disappointment with 1.9% annualized growth in the third quarter. The Fed is incorporating all data. 

See 

• FOMC Preview: Three and done
• Fed Cheat Sheet: Three scenarios for EUR/USD price action as uncertainty is higher than usual