The Dollar saw a rotation higher after initially dipping on a dovishly interpreted FOMC statement, picking up after Fed Chairman Powell cited possible transitory factors behind the current lower than trend inflation. Powell also said global growth and Brexit risks have dissipated. EUR-USD fell from a post-Fed statement high of 1.1264 to a post-Powell low of 1.1187 before settling to a narrow range around 1.1200. Cable, AUD-USD saw similar price actions. USD-JPY lifted from a 111.05 low to a 111.66 high before settling around 111.50. USD-CAD rallied by about 70 pips to a high of 1.3461.
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