Fed enables some profit taking on the Dollar

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The Fed left the interest rate unchanged as expected but made some dovish comments that markets seized upon. They introduced the word symmetric to the statement, allowing markets to understand that they may tolerate somewhat higher inflation. Moreover, the wording related to the economy was somewhat cautious, describing household spending as moderate and more importantly, omitting the line stating that the outlook has improved. 

The US Dollar reacted with a drop that was also related to profit-taking. The moves did not go too far though.

Here is the live coverage with Valeria Bednarik, as it happened:

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About Author

Yohay Elam – Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I’ve accumulated. After taking a short course about forex. Like many forex traders, I’ve earned the significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I’ve worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts.

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