The Fed did not raise its benchmark interest rate [Video]
|U.S. central bank announced on Wednesday it will begin to roll off its $4.5 trillion balance sheet in October. The Fed did not raise its benchmark interest rate and projected one fewer rate hike than initially forecast by 2019. The Fed also reduced its outlook for inflation, cutting its expectation from 1.7 percent this year to 1.5 percent, and from 2 percent to 1.9 percent in 2018. On the news, the USD/JPY pair rallied above the daily Ichimoku cloud as the USD strengthened across the board. BOJ Kuroda is expected to speak at a press conference today at 6:30 AM GMT which could create further volatility in the JPY crosses. ECB President Mario Draghi is also due to speak today at 1:30 PM GMT. The US Leading Indicators (AUG) will be released next at 2 PM. Thanks for watching, invest responsibly, and I wish you the best of luck making pips by trading forex.
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