The Fed will start cutting its $4.5 trillion balance sheet in October, initially by just $10bn per month. Fed chair Janet Yellen said the normalisation process would be gradual and predictable.
Policymakers also left US interest rates unchanged, at 1.25% to 1.5%. The Fed committee expects to raise borrowing costs once more time this year, followed by three raises in 2018.
This is a very Hawkish statement for a Dovish Yellen.
I'm currently short EUR USD but down a few pips, just closed AUDUSD for a nice 73 pip move.
Expecting the USD / DXY to continue a bullish move for the rest of the day.
Policymakers also left US interest rates unchanged, at 1.25% to 1.5%. The Fed committee expects to raise borrowing costs once more time this year, followed by three raises in 2018.
This is a very Hawkish statement for a Dovish Yellen.
I'm currently short EUR USD but down a few pips, just closed AUDUSD for a nice 73 pip move.
Expecting the USD / DXY to continue a bullish move for the rest of the day.