XE Market Analysis: Asia – Dec 19, 2018

The Dollar remained under pressure ahead of the FOMC announcement, taking the DXY to eight session lows of 96.56 early in the session. Traders pared long USD positions, and in some cases gone short on expectations the Fed will raise rates today, but signal a pause in tightening going forward. The USD perked up slightly following the FOMC announcement, where rates were raised by 25 basis points, as widely expected. The dots for 2019 hikes were reduced to 2 from three, but the statement retained the “further gradual increases in the target range…” will be needed language.

Source: XE news feed
XE Market Analysis: Asia – Dec 19, 2018