Dollar Gains After FOMC Meeting, Shrugs Off Poor Employment

The US dollar was firm after the meeting of the Federal Open Market Committee as the resulting statement was less dovish than market participants have expected. The greenback retained strength despite poor employment data.

The employment report from Automatic Data Processing showed growth by just 130,000 jobs in October that trailed the forecast of 151,000. Such data indeed does not give incentive for the US central bank to change policy, yet the dollar was not bothered by it.

EUR/USD fell from 1.3734 to 1.3726 as of 00:00 GMT today. GBP/USD went down from 1.6036 to 1.6028, while USD/JPY was flat at 98.48 following yesterday’s advance.


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