- EUR / USD fell as a result of the FOMC policy announcement after the bank did not modify its QE program.
He EUR/USD it has fallen immediately after the FOMC’s monetary policy announcement, falling from around 1.2170 to below 1.2730. On the day, the pair is now trading at a loss of around 0.2% or 20 pips.
The FOMC chooses not to change the size or composition of asset purchases
The FOMC voted unanimously to keep the federal funds target range at 0.0-0.25% as expected. The bank also chose not to change the size or composition of its asset purchase program and pledged to continue to buy $ 80 billion per month in US Treasuries, as well as $ 40 billion per month in agency-backed securities until “additional substantial progress has been made.” on your maximum employment and price stability targets.
Some expected that the FOMC would choose to increase the weighted average maturity of its asset purchase program (that is, start buying longer-duration bonds), or even increase the monthly rate of purchases from current levels; Markets apparently made the decision not to do so as “aggressive” and US bond yields rose further and the yield curve steepened, explaining the slight USD offer.
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