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18 Mar 2015

GBP/USD: FOMC slightly dovish, but June still possible

FXStreet (Guatemala) - GBP/USD is trading at 1.4780 currently post the FOMC decision and statement, with a high of 1.4794 and a low of 1.4633.

The greenback is extending losses across the board with GBP/USD over 1 and half cents higher. The "patience" language was dropped but the Fed are still on watch and monitoring the economy for a number of requirements including signs of an improvement in the labour market.

Votes were unanimous however and even the hawks have started to become more dovish, with now 15 of 17 members thinking that an increase will happen this year but with the rate at just 0.625% by the end of 2015. This means that markets should not expect moves at every meeting if they do start to move, say, in June.

The dollar is lower on the back of a mixed outlook and a number of projections forecasted by the Fed coming in lower in GDP, inflation and unemployment for example. All in all, there are mixed messages here, so when the Fed do start to move, perhaps as early as June, it will certainly not be as aggressive.
Mar 18, 2015

USD/JPY drops to 120.55 and rebound after FOMC statement

USD/JPY dropped from 120.95 to 120.55, reaching the lowest level since March 6 after the release of the FOMC decision.
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Mar 18, 2015

FOMC drops “patient”, says unlikely to raise rates in April

As expected, the Federal Reserve decided to keep the target range for the federal funds rate at its record low of 0-0.25% removed the word “patient” from its language. Instead the Fed said it would raise rates when it is reasonably confident that low-inflation is on track to return to its 2% target and as long as the job market keeps improving.
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