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  • Writer's pictureMike Paterson

US Dollar lower in post-FOMC fallout. BOE now in focus.

Thursday 20 December 2018

US Dollar lower in post-FOMC fallout. BOE now in focus.

We've seen USD in general retreat after the US Fed duly hiked interest rates by 0.25% and pointing to 2 hikes next year but markets knew that in essence. The Greenback was making its mind up after a relatively muted response and with equity markets falling we've also seen some risk-off sentiment prevail as I highlighted in a subsequent tweet. I hope you took heed.

GBPUSD took out the offers/sell interest between 1.2650-60 but so far failed to seriously challenge those at 1.2680. EURGBP remains underpinned still with buy interest now still building at 0.9000 with sellers now around 0.9030 again.The BOE are out with their latest interest rate decision today at 12.00 GMT and although no change is expected we'll keep an eye on the vote count and any rhetoric that might get the algos excited. UK retail sales data out before at 09.30 GMT. Brexit still the big headline maker though.

EURUSD has rallied on the USD supply to test 1.1430 with the buyers at 1.1360 holding the decline again post-FOMC and USDJPY has broken down through 112.00 on the softer USD/risk-off combo and now tested the bids/demand at 111.80 that I highlighted.

USDCHF has fallen back to post 0.9913 as I type but supported by EURCHF finding dip demand again with the SNB seemingly ever-watchful while AUDUSD has fallen further to take out the 0.7100 support but stopped at 0.7080. USDCAD had various looks above 1.3500 but sellers have prevailed thus far has.

Fickle Forex markets ever prevailing so be ready with your entry/exit levels and don't get greedy.Get your orders in to take full advantage of these moves.

Have a good day one and all.

Interbank Rate 07.48 GMT GBPUSD   1.2655 EURUSD   1.1420 EURGBP   0.9024 GBPEUR   1.1080 GBPAUD   1.7806 GBPCAD   1.7067 USDJPY   111.87 EURJPY   127.78 EURCHF   1.1330 USDCAD   1.3485 USDCHF   0.9923 GBPHKD   9.8114 EURHKD   8.8551

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