US dollar trims gains after US Fed meeting

Posted 31 January, 2019

On Thursday, the US dollar is losing grounds affected by the results of the first US Fed meeting in 2019. 

The US dollar index decreased by 0.15% today. 

The euro to US dollar exchange rate was at $1.1495, while the yesterday's trading was closed near $1.1480.

The greenback weakened vs the Japanese yen with the rate staying at 108.55 (109.04 earlier). The sterling strengthened against the dollar to some $1.3144 ($1.311 earlier).

The US Central Bank held the regular meeting this week after which it decided to leave the interest rate unmoved at 2.25-2.50% per annum coming in line with the market expectations.

According to the released data, the US Federal Reserve, in particular, its chairman Jerome Powell, confirmed during the after-meeting press conference that the regulator might take a break in the interest rate increase, but this will not mean the stop of the upward revisions. At the same time, the market in its turn was ready for such decision as the insdiers have been expecting no rate lift till the end of the year at least for few past weeks already. With the message of the US Fed Chairman, the investors have become even more confident.

Notably, the US Fed no longer says anything about further gradual lift, though as the regulator's spokesperson stated, the market should be patient with this issue.

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