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Soft Fed hammers the dollar

Discussion in 'Technical Analysis' started by FXStreet_Team, Mar 17, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    Yesterday, USD traders kept a wait-and-see approach ahead of the FOMC decision. The dollar traded with a slight positive bias, especially in the afternoon as US inflation was higher than expected. The Fed kept its policy rate unchanged but Fed governors lowered the path of projected rate increases in 2016 from four to two. US bond yields and the dollar declined substantially. EUR/USD jumped from sub-1.11 levels to close the session at 1.1224. USD/JPY declined to finished the session at 112.56.

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