Sean Callow, Research Analyst at Westpac, notes that it was another quarter with another fully-priced in Fed rate rise as this week’s hike produced a fleeting fall in the greenback, seemingly in response to the removal of the long-standing description of the policy stance as “accommodative.” Key Quotes “Fed chairman Powell clarified that this change “does not signal any change in the likely path of policy.” “A speculative market heavily long dollars will have hoped for a catalyst for fresh gains.” “In the quarterly SEP, the FOMC raised its median forecast for GDP growth over the year to Dec 2018 from 2.8% to 3.1%. This may not be the much boasted-about 4% pace but it is a long way above the Fed’s estimate of potential growth, which the Fed kept at 1.8%.” “With the unemployment rate already in the mid-3% area and core inflation at 2%, little wonder the FOMC is projecting the funds rate to rise above the long term or neutral rate.” “The medium term USD outlook remains broadly positive.” “Near term though, there could be a mild pullback on profit-taking, with pricing already above 80% for a Dec hike and plenty of event risk before then, notably the 6 Nov midterm elections.” 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 USD/CHF focused on 0.9789 – Commerzbank FX Street 4 years Sean Callow, Research Analyst at Westpac, notes that it was another quarter with another fully-priced in Fed rate rise as this week's hike produced a fleeting fall in the greenback, seemingly in response to the removal of the long-standing description of the policy stance as "accommodative." Key Quotes "Fed chairman Powell clarified that this change "does not signal any change in the likely path of policy." "A speculative market heavily long dollars will have hoped for a catalyst for fresh gains." "In the quarterly SEP, the FOMC raised its median forecast for GDP growth over the year to Dec 2018… 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.