The Dovish U-Turn from the FOMC plunges the Greenback

The price movement in the USD Majors said it all. The extremely cautious & dovish tone from the Federal Reserve (U.S Central bank) caused huge losses to the Greenback against its counterparts. While the FOMC was optimistic on the robust job creation & domestic economic growth, external factors like U.S-China trade talks, Brexit uncertainty and slowing global economy were hanging on the horizon as dark clouds. All of these have caused the Feds to suddenly adopt a wait-and-see approach as there are no more rate increases expected this year. This is not the first time Feds have taken this route…...