💲Fed doubles taper, USD gains❗

Fed doubles the pace of QE reduction to $30 billion per month

The Federal Open Market Committee (FOMC) has just announced its latest monetary policy decision. The US central bank left interest rates unchanged as expected.  The tapering pace increased from $ 15 billion per month to $ 30 billion per month, as expected by analysts. Dot plot signals three hikes in 2022 and three in 2023.  Market attention now turns to the press conference of Fed Chair Jerome Powell (start at 7:30 pm GMT). Powell will explain the decision in detail and reasoning behind first and later will answer journalists' questions. 

EURUSD fell after Fed decision and tested 1.1260  level. Source:xStation5