The dollar fell following the FOMC announcement, where rates were left unchanged as expected. The dot-plot signaled no further rate increases this year, and one 25 basis point rise in 2020. The Fed revised 2019 inflation lower, and said it will end its balance sheet reduction in October. EUR-USD spiked over 1.1440 from 1.1355, while USD-JPY fell under 110.70 from 111.50. Wall Street recovered earlier losses, and yields headed lower. Elsewhere, USD-CAD sagged under 1.3260, as Cable recovered over 1.3250 from pre-Fed levels of 1.3165.
[EUR, USD]