More downside for the dollar on S&P500 fall

[Thabang325]

After the Federal Reserve brought forward a 50bps rate cut from the March 18 meeting this week we saw the USD fall off quickly on the announcement. The expectations from the futures market were 100% for a 50bps rate cut and 70% for a 75bps rate cut. The delivered cut, early, pushed the dollar lower and the DXY is held under the 200EMA on the daily chart.