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USD/CAD briefly rises above 1.4100 after FOMC statement

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Jan 27, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    FXStreet (Córdoba) - USD/CAD briefly rose above 1.4100 to fresh session highs following the release of the Federal Reserve statement on monetary policy.

    The Fed left its monetary policy unchanged as expected and acknowledged recent turbulence in global markets. The Fed said it will be “closely monitoring” global economic and financial developments.

    The dollar initially strengthened on the less dovish than expected stance, but quickly surrendered most of its gains. USD/CAD reached a high of 1.4142 before returning to the 1.4085 area, where it is trading, 0.23% lower on the day.
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