XE Market Analysis: Asia – May 01, 2019

The Dollar ended higher in N.Y., but lost ground ahead of the FOMC on the back of softer manufacturing ISM and construction spending data. The Greenback did not get much of a bounce from the better ADP jobs report, as traders played defense ahead of the Fed. After the FOMC announcement, the Dollar chopped around a bit, then headed slightly lower. The statement revealed a slightly trimmed inflation outlook, and the Fed lowered the IOER by 5 basis points to 2.35%. USD-JPY topped at 111.24 from 111.15 after the announcement, then headed to session lows of 111.08.