XE Market Analysis: Asia – Dec 14, 2016

FX trade was quiet ahead of the FOMC announcement, with major pairings meandering inside of relatively narrow trading ranged. The dollar surged higher following the as-expected 25 basis point Fed rate hike. The driver was Fed’s expectations for three more hikes in 2017, which may have been on the high side of market expectations. Wall Street turned ended moderately lower, while yields surged. EUR-USD fell from near 1.0650 to a low of 1.0559, as USD-JPY rallied to 116.45 from 115.10. USD-CAD popped to 1.3254 from under 1.3090, as cable fell from 1.2720 to 1.2610.[EUR, USD]EUR-USD ranged between 1.0670 and 1.0633…

Source: XE news feed
XE Market Analysis: Asia – Dec 14, 2016