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EUR/USD falls back as Fed leaves interest rates unchanged

The US Federal Reserve has just now released the outcome of their monetary policy decision. This was the expected outcome, but the Fed has removed and changed some of the language in the accompanying statement. The vote in favour of this decision was unanimous. The dollar has lifted further from its session lows on this news. The Fed has clearly warned the markets; that now change in monetary policy is yet likely until there is further evidence that inflation is more firmly under control. At the same time they have removed previous comments regarding the possible need to raise rates further. So, on balance this is actually quite positive for the dollar and US yields. It now remain s to see what the Fed boss, Jerome Powell will add when it addresses the press at 7.30pm GMT. The EUR/USD has now dropped back to below 1.0825 after rising above 1,0880 earlier this afternoon and the US equity markets are now lower than before this announcement  

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