Federal Reserve cuts rates by 25bp as expected, two FOMC members against the decision. US Dollar rises across the board following the statement, DXY holds above 98.00. The EUR/USD pair dropped from 1.1130 to 1.1084 hitting the lowest level since May 2017. Then it bounced to the 1.1100 area. Market volatility was high following the release of the FOMC statement. The Federal Reserve cut interest rates by 25bps as expected. It announced it will end the balance sheet reduction program in August, two months earlier. At the FOMC, two members (Rosengren and George) dissents from the decision, favoring a no cut. The greenback rose across the board after the announcement, hitting fresh highs but the rally so far has been limited. Now traders await Fed’s Chair Powell press conference, to being in 20 minutes. EUR/USD holds a bearish tone but so far it is still defending the 1.1100 area. A consolidation below would signal more losses ahead from a technical perspective. The next strong support is seen around 1.1060. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Breaking: EUR/USD crashes below 1.11, lowest since May 2017 FX Street 4 years Federal Reserve cuts rates by 25bp as expected, two FOMC members against the decision. US Dollar rises across the board following the statement, DXY holds above 98.00. The EUR/USD pair dropped from 1.1130 to 1.1084 hitting the lowest level since May 2017. Then it bounced to the 1.1100 area. Market volatility was high following the release of the FOMC statement. The Federal Reserve cut interest rates by 25bps as expected. It announced it will end the balance sheet reduction program in August, two months earlier. At the FOMC, two members (Rosengren and George) dissents from the decision,… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
