The dollar fell, rallied, then settled in to nearly unchanged after the FOMC announcement, where there were no surprises, and no hints dropped as to when rates might be raised. Ahead of the Fed, the FX market was relatively quiet, with only USD-CAD moving significantly after oil prices jacked up to one-week highs following a fall in U.S. inventories. The dollar dipped in the immediate aftermath of the FOMC statement though quickly moved higher after the dust settled.
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