FX trade was uneventful through the morning session, with major dollar pairings sticking inside of very narrow ranges ahead of the FOMC announcement. Wall Street remained flat, while Treasury yields did little more than wiggle within a couple of basis point ranges. The dollar fell after the Fed's failure to launch, with the FOMC wimping out, and leaving rates unchanged. While the market was split on the outcome, the relatively dovish statement perhaps surprised some. EUR-USD rallied from 1.1340 to 1.1401 highs, as USD-JPY fell from just shy of 121 to 120.27 lows.
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