XE Market Analysis: Asia – Dec 16, 2020

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FX trade was quiet ahead of the FOMC in N.Y. on Wednesday, with the USD moving slightly higher through the morning session. The Dollar headed to session highs following the FOMC announcement, which saw no change in interest rates, as widely expected, though made no changes to its asset purchase program. The Fed did not extend the maturity of its QE purchases, which some had expected, and which likely gave the USD some support. The Bank’s statement noted “The path of the economy will depend significantly on the course of the virus.