The US Dollar weakened after the Federal Reserve decided to keep rates unchanged. While this was already expected, the fact that the Fed remains cautious and indecisive put the Dollar under pressure.
Volatility was lower than usual during and after the Fed event. USD/JPY had already seen a large decline yesterday as JPY shorts exited their positions post-BoJ and extended losses to 100.09 after the Fed. Further losses seem likely, with 100 support looking vulnerable.
EUR/USD is slowly moving higher, from 1.1185 to 1.1205 in Asia. GBP/USD also rallied post-FOMC and reached a high of 1.3060 in Asia. The commodity currencies gained overnight, although dovish comments from the RBNZ weighed on the New Zealand Dollar.
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