XE Market Analysis: Asia – Jun 19, 2019

FX trade was quiet ahead of the Fed, though the Dollar fell broadly after the FOMC announcement, where rates were left unchanged, as widely expected. The statement said uncertainties have increased, and “the Committee will closely monitor the implications of incoming information for the economic outlook and will act as appropriate to sustain the expansion”. Previously, the Fed said it would be “patient”. Markets took the outcome with a dovish lean, which saw Wall Street rally, and yields head lower.