USD/JPY wavers after Fed statement

By FXstreet.com | June 18, 2014 AAA

FXStreet (Córdoba) - The USD/JPY moved erratically between fresh daily lows and highs right after the Fed announced its decision to leave federal funds at record lows and to trim bond purchases by $10 billion to $35 billion in June, as widely expected.



The USD/JPY slumped to a fresh daily low of 101.93 only to bounce to the 102.30 area shortly after as investors asses Fed statement and a set of new quarterly projections.



Projections reaveled most officials expect the first rate hike in 2015 while a Little steeper rise is seen in 2016. The Fed also cut GDP and unemployment rate projections while left inflation forecasts nearly unchanged.



The USD/JPY is currently trading at 102.15, back to square one. Attention now turns to Janet Yellen who will adress the press at 18:30GMT.



comments powered by Disqus
Related Forex Analysis
  1. USD/JPY desperate to move away from 107.00
    Forex News

    USD/JPY desperate to move away from 107.00

  2. US Dollar Technical Analysis: Readying to Resume Uptrend?
    Forex News

    US Dollar Technical Analysis: Readying to Resume Uptrend?

  3. GBP/USD goes nowhere ahead of retail sales report
    Forex News

    GBP/USD goes nowhere ahead of retail sales report

  4. EUR/JPY Technical Analysis: Former Resistance Now Support
    Forex News

    EUR/JPY Technical Analysis: Former Resistance Now Support

  5. GBP/JPY Technical Analysis: Pound Sold vs. Japanese Yen
    Forex News

    GBP/JPY Technical Analysis: Pound Sold vs. Japanese Yen

Trading Center