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Dollar Sharply Lower Post FOMC Release, Reverses Immediately

DATA REACT
  • Roughly a 30 pip move lower in the greenback against most major currencies following the release of the fed statement.
  • EURUSD spikes to 1.1610 but sharply reverses back below the 1.16 handle and now consolidating around unchanged at 1.1580. Similarly, USDJPY down to 1.1380 but now making fresh highs since the release around 114.10.
  • With the decision pretty much in line with expectations, the focus will turns to Chair Powell's press conference.

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