Well, after the Live coverage of the Fed statement i’m back here. The FED leaved rates unchanged at 2.0% but the speech dissapointed market participants, as more hawkish comments were expected, sending dollar down against it’s major rivals, very close to the key levels mentioned before the announcement.
Things from here, look quite dark for the dollar, at least in the short term, no matter how many rate hikes the market could have priced in. Euro is the one with more clear chances of a bullish continuation for the next days, helped by today’s earlier Trichet speech.
We could see some technical corrections from here, but it would be important to watch market reaction tomorrow morning at the European opening to confirm a continuation of this bearish dollar trend after days of sideways movements.
See you all tomorrow at the beginning of the european session!
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