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Investors sell USD following Fed decision

20th June 2019 Off By binary
Investors sell USD following Fed decision
By Jameel Ahmad, Global Head of Currency Strategy and Market Research at ForexTime

As expected, the Federal Reserve did not cut US interest rates this month. However, the market reaction and accompanying USD movements in FX markets following the decision suggests that the stage is now set for interest rate cuts in the United States over the coming months.

Investors are jumping on the opportunity to sell the USD as the gates slowly open that the Federal Reserve will move closer towards lowering interest rates. Therefore the Dollar is sliding lower on the news and there is still an opportunity to jump on this trade.

Look for momentum in the USD to drift further lower over the coming hours and I would expect for emerging market currencies in Asia and the EMEA to attempt a jump on this wave during Thursday trade.

Each one of the G10 currencies has moved higher against the USD at time of writing with the biggest gainer standing as the British Pound at 0.7%.

 

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