XE Market Analysis: Asia – Sep 16, 2020

The dollar headed a bit lower, then reversed course higher following the FOMC announcement, where policy was unchanged, as expected, though moves were modest. USD-JPY dipped from 104.98 to 104.80, then headed to 105.08 highs, as EUR-USD bounced from 1.1830 to 1.1855 before heading to 1.1805 lows. The FOMC’s “dot plot” indicated rates on hold for the foreseeable future, perhaps all the way out to 2023.