Dollar bullish investors were left handed on Wednesday following the dovish FOMC statement that exposed the Greenback to downside losses. Although US interest rates were increased as anticipated, the “dot plot” which had no upwards revision quelled expectations of the central bank raising US rates four times this year. Investors may direct their attention towards the pending BoE policy meeting that is expected to conclude with monetary policy unchanged. With Dollar weakness, a short term theme, commodities such as Gold and Oil could receive a slight boost.
-The EURUSD could find itself under pressure if prices break below 1.0650 -Sterling remains heavily pressured by political risk and uncertainty -Gold bears may return back below $1220
Dollar bullish investors were left handed on Wednesday following the dovish FOMC statement that exposed the Greenback to downside losses. Although US interest rates were increased as anticipated, the “dot plot” which had no upwards revision quelled expectations of the central bank raising US rates four times this year. Investors may direct their attention towards the pending BoE policy meeting that is expected to conclude with monetary policy unchanged. With Dollar weakness, a short term theme, commodities such as Gold and Oil could receive a slight boost.
-The EURUSD could find itself under pressure if prices break below 1.0650
-Sterling remains heavily pressured by political risk and uncertainty
-Gold bears may return back below $1220
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