XE Market Analysis: North America – Mar 21, 2018

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The dollar has traded softer into the Fed’s policy announcement. Cable led the way, with the pair gaining about 0.5% following an unexpected dip in the UK unemployment rate and better-than-forecast rise in average household incomes. The pair logged a two-day high at 1.4075. EUR-USD, meanwhile, lifted to the upper 1.2200s, putting in some distance form yesterday’s three-week low at 1.2239, a low that capped a recent down move driven by a widening in the U.S. Treasury over Bund yield spread. USD-JPY settled to a consolidation with a modest downward drift after a two-day run higher.