XE Market Analysis: Asia – Dec 13, 2017

The dollar dropped early on, as core CPI was cooler than expected. The unit stayed down into the FOMC announcement, and fell after the as-expected 25 basis point Fed rate hike, then quickly headed above levels just prior to the announcement, before dipping again. EUR-USD popped to 1.1796 from 1.1770, then headed to 1.1766 lows before heading over 1.1800. USD-JPY meanwhile, fell from near 112.90 to 112.65 before topping at 1.1314, then falling under 112.70. Wall Street maintained gains, while yields slipped slightly after initially shrugging off the announcement.