Dow Jones Drops as the Fed Hikes: Support Potential Remains
The Dow is dropping after the third rate hike out of the Fed this year, but it was the removal of a supposedly inconsequential word from the statement that appeared to get attention.
The Dow is dropping after the third rate hike out of the Fed this year, but it was the removal of a supposedly inconsequential word from the statement that appeared to get attention.
Mostly narrow ranges have prevailed so far today. EUR-USD has continued to make time in the mid 1.1700s, holding below the two-month that was seen earlier in the week at 1.1815. USD-JPY traded above 113.00 for the first time since mid July, posting a high at 113.02 just after the Tokyo fixing before settling to […]
The Dollar has traded with a slight upside bias ahead of potential market-jolting events. USD-JPY briefly traded above 113.00 for the first time since mid July, posting a high at 113.02 just after the Tokyo fixing before settling to a narrow range in the upper 112.00s. AUD-JPY concurrently posted a three-session high and while EUR-JPY […]
FX trade was quiet through the morning session, as traders largely sat on their hands ahead of the FOMC announcement. The Dollar turned modestly lower after the Fed raised rates by 25 basis points, as expected, and kept another December hike on the table. USD-JPY attempted to rally immediately following the announcement, topping at 113.00 […]
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