The dollar jumps after the Fed

pulse

September 20, 2017 7:21 PM

The Fed is expected to announce its plan for unwinding its massive balance sheet.

The dollar jumped after the Federal Reserve announced details of its biggest post-recession policy shifts since it first raised rates at the end of 2015.

The US dollar index was up by 0.5% at 92.23 at 2:19 p.m. ET after sitting in the red ahead of the announcement.

The central bank said Wednesday, as expected, that it will soon start trimming the $4.5 trillion balance sheet it built up after the recession. It left interest rates unchanged in a range of 1% to 1.25%.

The greenback has fallen about 9% versus a basket of its peers since President Donald Trump's inauguration on January 20.

As for other FX news, here was the scoreboard at 2:14 p.m. ET:

euro
British pound
Japanese yen
Canadian dollar

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