USD Down the Drain After Dovish FOMC: Gold, Yen Catch Bids
The past ~20 hours have seen continued volatility after the Fed’s dovish-hold yesterday, in which the FOMC decreased their expectation for hikes this year from four to two.
- USD weakness has been a prominent theme as traders have sold out of bullish-USD bets on the back of rate-hike hopes. This has created reverberations throughout currencies and commodities. Key of which have been ‘safe haven’ like classes, such as the Yen and Gold.
- Markets are likely going to remain extremely volatile. Please make sure risk management has been addressed if you’re looking to traverse these conditions. And if you’re looking for trade ideas, check out our Free Trading Guides or our Speculative Sentiment Index indicator.
