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USD sharply down after FOMC Press Conference

Wednesday, Mar 18 2015
USD was pushed sharply down after FOMC Press Conference. Though interest rates were unchanged and word patient was dropped out from the statement but it was stated that removing the word patient from the statement doesn’t mean that Fed is going to be impatient.
 
The Federal Open Market Committee said it will be appropriate to tighten “when it has seen further improvement in the labor market and is reasonably confident that inflation will move back to its 2 percent objective over the medium term.” 
 
Still, the committee lowered its assessment of the economy, saying growth has “moderated somewhat.” In January, it said the economy was “expanding at a solid pace.” Export growth has weakened and the housing recovery remains slow, according to this month’s statement.“An increase in the target range for the federal funds rate remains unlikely at the April” meeting, it was said in the statement.
 
Due to this USD sharply fell. Euro is currently being traded few points above 1.0950 level, Sterling is above 1.5060 area, while Aussie is slightly below 0.7830 level. 
More in this category: « Euro steady ahead of Fed Aussie in decline in uneventful morning part of the session »

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