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USD Lost: Market Review, 21/03/2019

21 march 2019 - Fx4News

The major pair hit the Feb 4 highs upon the Fed meeting. The EURUSD is not that active on Thursday morning, but the greenback is still under pressure. The pair is currently trading at around 1.1424.

The entire market is focused on the EURUSD after the Fed meeting on Wednesday. The US central bank left the monetary policy unchanged, with a hint that no more rate hikes are planned for 2019, which stabbed the dollar in the back. The Fed was expected to leave space for one hike this year, but in fact it is no more that dovish as it has been before.

The Fed's decision means that the US economy is struggling, the businesses needing more accessible loans. President Trump has already critized Jerome Powell many times for too aggressive policy and expensive dollar. The pressure is likely to be here stay for the following few days, and then the market will start recovering.

The US jobless claims are being released tonight, with the indicator expected to rise slightly. The job market is doing well overall, so the EURUSD is unlikely to show any reaction to this release.

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