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Post-FOMC US Dollar Price Action Setups: EUR/USD, GBP/USD, USD/CAD
This was a fairly clear-cut rate decision, in my opinion. There were no actual moves and there were none expected coming into this meeting. Even the bank’s statement issued at 2PM ET was practically unchanged since last month, with only minor tweaks. And Powell was clear throughout the press conference, repeating himself that the bank was attentive to the increase in longer-term yields. Powell was also to-the-point regarding future rate cuts, saying that it wasn’t something that was even being talked about at the bank. He also said multiple times that policy was restrictive which helps to buffer the talking down ... (full story)