The Fed to await «substantial further progress» | 17 June 2021

17 June 2021, USD/JPY

The Fed to await «substantial further progress»

USDJPY trading plan:

The Fed reiterated its promise to await «substantial further progress» before beginning to shift to policies less tuned to the pandemic and more to a fully open economy. The new language does not mean a change in policy is imminent: The Fed on Wednesday held its benchmark short-term interest rate near zero and said it will continue to buy $120 billion in bonds each month to fuel the economic recovery. But new economic and interest rate projections appeared to add some urgency to the Fed's planning. Policymakers at the median now see the first rate increase coming in 2023 instead of 2024.

Investment idea: range 110.10 -110.85.

David Johnson
Analyst of «FreshForex» company
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