Forex trading news and economic data 29 July 2015
The FOMC
The data
The news
FOMC day and we saw the dollar making it’s usual pre-FOMC run higher. Nothing to write home about but we hovered just under 124.00 in USDJPY. Late nerves or squaring up saw us dip to around 123.70 just ahead of the announcement and then we pinged to 123.50 and then 124.00 as the headlines hit. The market tried to pick the bones out of the statement but it was like trying to find something after the vultures had been there. There wasn’t much in it at all, and certainly no hints to the possible date of hikes. We went back into the range although a late dollar rally in the euro has kept the pair knocking on 124.00
ForexLive Americas FX wrap: No nearer to, or farther from unravelling the Fed rate picture after FOMC
