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USD immediately rallies in response to the...>

DOLLAR
DOLLAR: USD immediately rallies in response to the rate hike which may not have
been quite as dovish as some had expected. While median number of hikes by
end-2019 has fallen to 2 from 3, markets appear to be eyeing the Fed's addition
that they are to monitor "global economic and financial developments" appearing
to pay heed to recent equity volatility and deteriorating international trade
conditions. EUR/USD holding some of the day's gains but has drifting back below
the $1.14 mark.
-Many also eye the Fed's tweak to forward guidance: "some further gradual
increases" which may suggest the Fed are slightly further away from neutral than
previously expected. USD holding post-rate decision gains at writing.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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