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USD Recovers Slightly After Yesterday’s Dovish Federal Reserve Statement

Published July 27, 2017
  • The Federal Reserve left rates unchanged yesterday, as expected
  • Market participants viewed the FOMC statement overall as dovish, with vague wording on the inflation outlook, and a lack of clear timing around when the Fed will start to unwind its $4.5 trillion balance sheet
  • Focus is on tomorrow’s Canadian GDP print as potential impetus for further exchange rate movements