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FOMC Keeps Status Quo, USD Weakens
On the back of the FOMC, and as the dust settles in financial markets, the Japanese Yen and the Swiss Franc continue to outperform for a third day in a row amid the lingering bearish outlook for the US Dollar as Powell sticks to the status quo in policies. The FOMC outcome, despite the admission that it will maintain the same direction in terms of QE and rates for the foreseeable future, failed to inspire further buy-side momentum in the equity space. Coincidentally or not, this happens as the S&P 500 continues its struggles to take out the 3,225.00 resistance level. Fed’s Chairman Powell admitted, with no much ... (full story)