XE Market Analysis: Asia – Sep 26, 2018

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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 from near 112.90, before pulling back to 112.84. EUR-USD bottomed at 1.1760, then rallied over 1.1795. The Fed removed the “accommodative” language from its statement, indicating it is one-step closer to a neutral policy stance.