Dollar Rises to Two-Week High as Fed Hikes Rates, Elevates Dots

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  • Euro drops to recent lows, bids and option demand may cushion
  • Dollar-yen sets 10-month high after BOJ steps up bond buys

The dollar rose strongly after the FOMC raised the fed funds target rate by 25 bps, as expected, and signaled the possibility of 3 further interest rate hikes in 2017, a bolder forecast that was perceived as a “hawkish” move by the standards of the pre-meeting debate among traders.

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