XE Market Analysis: Europe – Jun 20, 2019

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The Dollar has rotated lower after the Fed span dovish in its guidance following the FOMC meeting. The USD index has dropped by 0.7% from pre-announcement levels to a low at 96.278, seen earlier in the pre-Europe Asian session, while EUR-USD has concurrently rallied by over 0.5% in making a six-day high at 1.1284. The biggest mover has been USD-CAD, which has dropped by nearly 1% in making a four-month low at 1.3228. A strong rally in oil prices has catalysed a strong bid for the Canadian Dollar.