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Fed Comments Push Dollar Higher Awaiting US Q2 GDP
USD Gains After Subtle FOMC Statement. The Federal Reserve wrapped up its two day monetary policy meeting and as expected did not announce a rate change. The market was waiting to review the language of the written statement and the changes were subtle. The Fed removed modifiers from its labor language to indicate the employment picture in America remains strong. The flipside was the central bank’s concerns with inflation which remains well below the desired target of 2 percent. The July FOMC statement was USD positive as both the September and December meetings could still bring interest rate hikes but shed no ... (full story)