The Federal Reserve Has Announced Its Interest Rate Decision! What Is the Latest on the Dollar?
The long-awaited announcement is finally here. The Federal Reserve released its January 2020 interest rate decision. After the Fed’s announcement, attention turned to the dollar’s latest movements. Let’s review how the dollar stands following the Fed’s decision.
The U.S. central bank’s January 2020 rate decision was highly anticipated by markets. According to the Fed’s statement, the policy interest rate remains unchanged. With that announcement, all eyes shifted to the dollar. The Federal Reserve left the policy rate unchanged at 1.50%–1.75%. Following this declaration, market participants focused on the dollar’s reaction. So, what is the current state of the dollar?
Dollar After the Fed’s Decision
- Dollar Buy: 5.9805 TL
- Dollar Sell: 5.9825 TL
- Dollar Previous Close: 5.9597 TL
Euro After the Fed’s Decision
- Euro Buy: 6.59 TL
- Euro Sell: 6.5925 TL
- Euro Previous Close: 6.5609 TL
What Did the Fed Say in Its Rate Announcement?
According to the Fed’s announcement, there was no change to the policy rate, which remains at 1.50%–1.75%. The decision to hold the policy rate steady was made unanimously. The statement highlighted that the labor market remains strong and that economic activity is expanding at a moderate pace.
The Fed noted recent job gains and a low unemployment rate as reasons supporting the current policy stance. The bank also pointed out that investment and exports have persisted at weak levels. In its communication, the Fed said it will continue to closely monitor economic data, global developments, and inflationary pressures when determining future policy actions.