USD Overview (29 July 2021)
ByJin Dao Tai
JUL 29, 2021
Yesterday, USD weakened against most major currencies except JPY driven by an increase in risk appetite from the market after the U.S. FOMC.
During the monetary policy meeting earlier today, the Federal Reserve held interest rate unchanged at the targeted range of 0-0.25% while maintaining its $120 billion per month quantitative easing (QE). Nonetheless, the central bank remained upbeat in the economy’s progress towards a tapering of its QE.
The Advance GDP q/q data (Forecast: 8.5%, Previous: 6.4%) will be released later at 2030 (GMT+8).
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