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Dollar Weakness Sharply Reverses Following Hawkish Fed Projections

FOREX
  • Sharp move higher for the greenback on the hawkish dot plot, erasing a solid portion of the day’s declines. USDJPY prints 139.99, still well shy of the 140.31 highs from Tuesday.
  • Both EURUSD and GBPUSD trade back close to unchanged on the session having made steady gains in the lead up to the decision.
  • NZD remains the strongest on the board after rising as much as 1.3% earlier today although the sharp downtick for major equity benchmarks continuing to pressure NZDUSD as of writing.

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