XE Market Analysis: Dollar Rally Fades as Market Doubts Fed Plans

OVERVIEW

  • USD had rallied strongly after FOMC announced an end to Q.E. and signaled a further rate rise.
  • GBP firm after BBC reports PM May will announce €20 billion payments to EU.
  • CAD recovering from a post-Fed dip on strong domestic data. 
  • EUR steady as consumer confidence rises by more than expected.
  • AUD weaker after Assistant Governor Lowe downplays the need for rate hikes.
  • S&P downgrades China to A+, stable from AA-, negative.