- US Dollar saw a spike in volatility in Wednesday’s session
- USD declined after PMIs then spiked and dropped following the FOMC decision
- The DXY extend its selloff
DXY struggled to gain ground. on Wednesday as EUR/USD rose after the latest PMI data and GBP/USD extended its rally on Brexit optimism. US Dollar weakness was marginally offset by a rebound in USD/CAD after jawboning from BoC Governor Macklem dragged on the CAD.
USD spiked into positive territory immediately post FOMC statement As the Fed upwardly revised its economic projections. US Dollar strength was short-lived, as Federal Reserve Chair Jerome Powell reiterated the central bank’s intentions to continue current pace of asset purchases at $120-billion per month.