DXY - Not Happy About FOMC Today
During the US Government's FOMC press conference we logged a 1% move on DXY, dropping to the previous support level between 102.4 and 102.5. That doesn't mean it can't/won't recover and rally more, but its not looking good in the near term as markets appear to believe the 0.5bp hike signals a weakening dollar.
As with earlier FOMCs, if they don't like how the markets responded you might see a strongly worded press release or other announcement in the coming days that could move the DXY or other markets trajectories.
As with earlier FOMCs, if they don't like how the markets responded you might see a strongly worded press release or other announcement in the coming days that could move the DXY or other markets trajectories.
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