Fed’s meeting does little to change the collective FX market psychology and the weak USD mantra remains firmly in place. Economists at TD Securities prefer to focus on pairs that have lagged the weak USD move, therefore, they remain focused on USD/JPY downside. Key quotes “The inclusion of a virus-dependent outlook is notable. This introduces an element of uncertainty around the USD, that is not kind to the reserve currency given that COVID cases are ravaging across the US. If anything, today’s Fed meeting will only reinforce that weak USD outlook mantra that has taken hold of market psychology. We prefer to focus this in pairs where this is less advanced. Here, USD/JPY looks poised to slide further.” “The break of the 106 pivot is significant and only adds to the risk/reward appeal of adding to longs. The recent push through multi-year horizontal support in USD/CHF may add to further downside pressure in USD/JPY. There, 104.50/60 will be key support ahead of the more significant 104 psychological support.” 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 Gold Price Analysis: XAU/USD flirts with session lows near $1950, US GDP in focus FX Street 3 years Fed's meeting does little to change the collective FX market psychology and the weak USD mantra remains firmly in place. Economists at TD Securities prefer to focus on pairs that have lagged the weak USD move, therefore, they remain focused on USD/JPY downside. Key quotes “The inclusion of a virus-dependent outlook is notable. This introduces an element of uncertainty around the USD, that is not kind to the reserve currency given that COVID cases are ravaging across the US. If anything, today's Fed meeting will only reinforce that weak USD outlook mantra that has taken hold of market psychology. We… 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.
