The Federal currency continued to gain against major currencies in the Asian session after the Feds deiced to raise the discount rate by 25 basis points to 0.75%, indicating that the bank will start exiting its expansionary policy, despite it denied that in the statement accompanied the decision.
The USDIX that tracks the dollar's strength against a basket of major currencies rose to the highest since June 16 recording high of 81.28 and a low of 81.02, while it is currently trading around 81.20. The U.S CPI will be released today affecting the dollar's performance.
The euro dollar pair declined in the Asian session recording the lowest since May 18. The pair recorded a low of 1.3453 and it is trading around 1.3474 between the 1.3430 levels and 1.3485 levels, while the pair is heading towards the oversold area according to momentum indicators on the four hour and daily charts. The euro zone's PMI manufacturing is on queue today that will move the pair.
The pound dollar pair declined as well to reach the lowest since May 19 recording a low of 1.5408, and it is currently trading around 1.5419 between the 1.5375 levels and 1.5470 levels. The pair is expected to show further declines according to the daily stochastic oscillator that is supporting the downside. Today's trading range shall be between 1.5500 and 1.5280 levels.
Finally, the dollar yen pair is fluctuating between a high of 91.98 and a low of 91.67, while the pair is currently trading around 91.69 between the 91.40 levels and 91.95 levels. The pair should incline today according to the stochastic oscillator on the daily and four hour charts, and today's trading range may be between 92.25 levels and 91.10 levels.