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    Dollar strengthens following FOMC statement

    With no accompanying press conference this month it was purely down to the statement for traders to decipher the hawkishness of the FED which, judging from USD reaction, markets still favour a September rise.

    Read the full FOMC statement here: notes below

    - June indicates that economic activity has been expanding moderately in recent months.
    - Growth in household spending has been moderate and the housing sector has shown additional improvement;
    - However, business fixed investment and net exports stayed soft.
    - The labor market continued to improve, with solid job gains and declining unemployment.
    - Labor market indicators suggests that underutilization of labor resources has diminished.
    - Inflation continued to run below the Committee's longer-run objective, partly reflecting
    - Earlier declines in energy prices and decreasing prices of non-energy imports.

    - Market-based measures of inflation compensation remain low;
    - Survey‑based measures of longer-term inflation expectations have remained stable.
    - Today reaffirmed its view that the current 0 to 1/4 percent target range for the federal funds rate remains appropriate.
    - The Committee anticipates that it will be appropriate to raise the target range for the federal funds rate when it has seen some further improvement in the labor market and is reasonably confident that inflation will move back to its 2 percent objective over the medium term.
    - The Committee currently anticipates that, even after employment and inflation are near mandate-consistent levels, economic conditions may, for some time, warrant keeping the target federal funds rate below levels the Committee views as normal in the longer run.




    seen the end of the rebound from the 1.08192 lows

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