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Thread: USD

  1. #81
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    Dollar drop 1% after FED rate hike

    The dollar nosedived more than 1%, after the Federal Reserve increased interest rates by 0.25% a 0.75-1% range.

    The Federal Reserve struck a familiar tone in its statement, pointing out that interest rate increases “will be gradual” in 2017, and maintained its view of three rate hikes, with the remaining two rate hikes expected later this year.

    The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, dipped 0.87% to 100.74, following the release of the interest rate decision.

    The greenback added to losses and last traded at 100.47 down 1.13%, after Janet Yellen fielded a raft of questions concerning the Fed’s decision to raise rates; future monetary policy decisions and the current as well as future prospects of the U.S. economy.

    Ms. Yellen struck a somewhat dovish tone, as she said the US central bank would continue to provide accommodative monetary policy to support the US economy but warned against a prolonged period of lower rates in order to avoid a situation which forces the fed to “raise rates rapidly”.

    GBP/USD tacked on 1.21% to $1.2296, after hitting a session high of $1.2256 prior to the release of the Fed's interest rate decision.

    The EUR/USD rose 0.97% to trade at $1.0707, while USD/CAD lost 1.22% to $1.3316.

    Meanwhile, the dollar lost ground against the yen with USD/JPY down 1.35% to 114.56.


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  2. #82
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    Dollar gains in Asia as U.S showdown looms on healthcare vote.

    The dollar held gains in Asia on Friday as a dramatic inter-party showdown loomed in the U.S. as the votes needed to replace the Obama-era healthcare law fell short on Thursday and President Donald Trump's office said he was "done negotiating" and wanted an up-or-down decision on Friday.

    Earlier, House Majority Leader Rep. Kevin McCarthy told CNN that House debate on the bill will start Friday morning. Later, House Speaker Paul Ryan issued a terse statement: "We have been promising" this, and "tomorrow we're proceeding." Members of the Freedom Caucus, Republican legislators, however vow to vote "no."

    The US dollar index which measures the greenback’s strength against a trade-weighted basket of six major currencies, rose 0.10% to 99.66. USD/JPY changed hands at 111.23, up 0.27% as Prime Minister Shinzo Abe faces a scandal at home related to his wife's work on schools.

    AUD/USD traded at 0.7638, up 0.14%, while GBP/USD easded 0.14% to 1.2503.

    Overnight, the dollar steadied against a basket of major currencies on Thursday, after the release of mixed economic data while investors waited the word on an Obamacare replacement.




 

 
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