The US Dollar strengthened across the board after the FOMC statement, which was more hawkish than the market anticipated. The Greenback gained against all major currencies, except the Japanese Yen. USD/JPY rallied to 121.20 after the statement, but failed to sustain momentum and eventually fell back to 120.70 in Asia. With the pair struggling and no major US data until next week's NFP release, further consolidation seems likely. EUR/USD fell from 1.1060 to 1.09 post-FOMC and the next major support level now lies at 1.0805, which is the low of May & July 2015. The British Pound didn't decline as much as the Euro, with GBP/USD down roughly 90 pips after the FOMC. The next notable support level lies at 1.5200, the October 14th low.
Commodities currencies suffered as well, although the Canadian Dollar received some support from the sharp rise in Oil prices. AUD/USD fell from 0.72 to 0.7120 after the FOMC and extended losses overnight to 0.7080. NZD/USD found good support at 0.6620 and bounced from there back to 0.67, but quickly ran out of momentum. It fell back to .6650 and a retest of the .6620 support level seems likely.
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