Dollar Gains from FOMC Meeting

The Greenback firmed up against the Euro and the Yen yesterday as the Federal Reserve left US interest rates alone for the seventh consecutive meeting and reiterated its concerns about inflation. Although the Fed’s decision to hold at the current 5.25% came as no surprise, the accompanying statement – which repeated the Fed’s predominant concern that the risk of inflation failed to moderate – initially put selling pressure on the Dollar before reversing quickly in favor of the US. Read More....