FX trade, not surprisingly, was quiet ahead of the FOMC decision, where after nearly 10-years, the Fed raised rates by 25-basis points. The statement said more rate hikes would be forthcoming, though emphasized they will come at a "gradual" pace. As a result, the initial dollar rally was modest, and indeed, the moves were quickly reversed. EUR-USD fell to 1.0890 from near 1.0950, before scurrying back up to 1.0950, as USD-JPY popped to 122.30 from 121.65, then reverting under 121.90.
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