XE Market Analysis: North America – Jun 20, 2019

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The Dollar extended losses that were ignited by the Fed’s dovish guidance yesterday. The USD index hit an eight-day low at 96.68, extending the decline from pre-Fed announcement levels to comfortably over 0.5%. EUR-USD concurrently posted a high at 1.1306 so far, the loftiest level seen sine June 12. USD-JPY hit a five-month low at 107.46. USD-CAD dove nearly 1% in making a four-month low at 1.3191, marking this pairing as the biggest mover (out of the main currencies) following the Fed’s dovish signal yesterday. A strong rally in oil prices catalysed a strong bid for the Canadian Dollar.