JPY and CHF Rose After Fed’s Dovish Message

JPY and CHF Rose After Fed’s Dovish Message The Feds Open Market Committee announced after the meeting that it would maintain all monetary policy unchanged, which includes that it would maintain near-zero interest rate level for a long time and it will keep purchasing assets. The 17 current members all agreed that the interest rate should be maintained unchanged until 2021, and 15 of them believed that the interest rate should be maintained unchanged until 2022.To get more news about WikiFX, you can visit wikifx official website. 　　In this interest rate meeting, the Fed not only faced unexpectedly strong recovery of employment data, but also a Nasdaq index that hit a record high, so under this situation, the Fed does not need to add more quantitative or implement controversial negative interest rates. However, in order to stabilize the financial market, Powell chose to release the relevant attitude in a more dovish way so as to continue to maintain a loose monetary policy to appease the market. 　　Affected by the Federal Reserve's slightly dovish post-meeting statement, real-time USDX fell to 95.716. The US dollar also fell against almost all major currencies, while Japanese yen and Swiss franc offered the most impressive performance, likely benefiting from the rather disappointing Dow Jones Industrial Average as safe-haven currencies. In the short-term, the Yen and the Swiss franc can keep their momentum. The USD/JPY is moving towards 106.00. If it happens to coincide with adjustment of US stock market, the USD/JPY might breach downward to the 106.00 mark and move towards another resistance level of 104.45. The USD/CHF further weakens, basically it has broken through several support levels and it is now moving towards 0.9335. If this mark is lost, it will challenge the March low of 0.9181 again. 　　[About The Author] 　　Since 1987, Jasper Lo has been engaged in the financial industry (forex, futures and gold) for more than 32 years and holds forex R.O., securities and futures broker licenses. Mr Lo is an expert in trading forex, precious metals and commodity futures and an basic and technical analyst. 　　Over the years, Mr Lo won many individual and team sales champion awards, as well as outstanding employee awards. He was invited, as a guest mentor, to the University of Hong Kong, Guangdong Ocean University and Guangzhou Jinan University. And he was also appointed as the chief training consultant by Hantang Securities and Dongguan Securities in China.