Flash: Euro lower post FOMC failure to change outlook - BTMU

FXstreet.com (Athens) - Derek Halpenny, European Head of Global Market research at the Bank of Tokyo Mitsubishi UFJ notes that the euro is lower after the FOMC statement failed to indicate any change in the outlook for the economy but the decline has been modest.

Key Quotes

“EUR/USD has taken much of the dollar selling of late and that probably won’t change until perceptions on ECB indifference to euro gains and falling inflation change.”

“We believe too much is made of QE’s impact directly on the dollar. Much of the performance of currency pairs depends on developments like central bank responses on the other side of the dollar currency pair.”