Overnight forex price action following March ’16 FOMC
24 hours after, winners and losers
- USD strengthens early against CAD, weakens against all others.
- AUD weakens shortly after 1pm (GMT + 8).
- JPY u-turns sharply after 2pm.
- Apart from CAD and JPY, tight cluster.
- CADJPY short delivered best performance although all JPY-crosses short winners too.
What’s the point of looking at all these? This movement after could be a knee jerk or the starting point of a trend until the next FOMC statement on 27 July. For those interested, the post-March FOMC action here.