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USD/JPY rises above 108.00 after FOMC

FXStreet (Córdoba) - Greenback jumped across the board after the FOMC released its statement and new economic projections. USD/JPY soared from 107.50 to 108.16, reaching a fresh 6-year high. Afterwards pulled back, but it was still trading above 107.50, as the US dollar remained strong in the market ahead of Janet Yellen’s press conference.

FED kept rates and cut the purchase programa es expected while the tone in the message remained the same. Two FOMC members voted against the decision and the language used in the statement, suggesting that the economic progress could lead to an earlier reduction in monetary policy accommodation.

The yen plummeted across the baord as bond yields turned slightly higher. Wall Street remained around previous levels, unaffected by the FOMC decision.

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