Dollar Index has fallen across major currencies after Fed kept the interest steady at 5.25%-5.50% and mentioned that they do not expect it will be appropriate to reduce the target range until it has gained greater confidence that inflation is moving sustainably toward 2%.
The Dollar Index, EURUSD, EURJPY, USDJPY are ranged within 106.50-105.50/105, 1.06/0650-1.0750, 168.169-166 & 154/152-160 respectively. Aussie can test 0.6580-0.66 on the upside before coming down towards 0.6450 on the downside, Pound below 1.26 looks bearish to 1.24 in the near term.
is closed today. may remain ranged within revised range of 88.50–89.50/90. can continue to trade within 83.50-83.30 for now. A sharp break above 83.50 will be strongly bullish towards 83.60/70 or even higher. The US Treasury yields fell post the FED policy meeting where it kept the rates unchanged and is not expected to cut rates before Dec-24. The German yields look mixed as the 10yr yield has dipped slightly while the 30yr yield has risen. However, the overall medium-term trend is Up. The Indian GOI yields can trade within the broad 7.15-7.20/22% region.
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