The Federal Reserve left its benchmark interest rate unchanged Wednesday. This decision that was widely-expected as senior central bankers take a wait-and-see approach to assessing the impact of the coronavirus pandemic on the U.S. economy. Policymakers reiterated they committed to using a full range of tools to support the US economy in this challenging time.The QE program will be maintained at $80 billion of Treasuries and $40 billion of Mortgage-Backed Securities and the central bank is seen reinforcing it will not pull it back anytime soon. FED pointed that pace of economic activity and employment has moderated in recent months which is contradictory to the previous statement - economic activity and employment have continued to recover but remain well below their levels at the beginning of the year. Vote was unanimous.
EURUSD saw a relatively small reaction to today’s data releases. The most popular currency pair continued to trade around 1.2100 level. Source: xStation5
