The index of USD or you can say it as DXY is 0.3% higher based on the data. It touched the level of 102.86 at the end of the Asian session. It was for this month or in May,.

FOMC meeting is one of the causes for that condition. The decision of that meeting is not inline with most people hope or expect so far. 

The members of that FOMC meeting agreed the 50 basis point increase as many participants want. However, that may delete all the expectations about the increasing rate hike.

The USD had a great upheaval in the early hours of this morning. The greenback rose after an announcement of Rate hike between 0.75%-1.00%, but then it slumped at a news conference by Fed Chairman Jerome Powell.

75 Basis Point Raise may be not Done

75 basis point is a number that can be not considered by the people in that committee. Powell also said that the 50 basis point increase may be announced in the next few FOMC meetings.

It is especially those who are taken into account by the people in this market. 200 basis point is the total amount made the Fund Future from the Fed for this year or in 2022. 

This is also behind the recovery of the US dollar position in the consolidation range yesterday morning. That is why; the further steps taken are so interesting to see. 

The more aggressive rate cycle can be also occured in The future. It was said by powell based on his opinion.

The Fed will not Block the Hawkish Limit

The Fed cannot or maybe not yet blocked the limit of hawkish made by market. It was said by Brian Daingerfield Where he is the head of G10 forex strategy from NatWest Markets.

He doesn’t think it's an exagg or eration to say that today represents the first 'dovish' surprise by the Fed. It is especially compared to the expectations owned by market for this 6 months period. 

The main rivals of the USD were observed to weaken during the asian session trading amid the Japanese and South Korean stock exchange holidays. EUR/USD declined by 0.3 %.

It moved to a range of 1.0587, while USD/JPY rose nearly 0.5 percent to a level of 129.70 again. This condition will trigger some changes ahead.

AUD / USD pair Made a Great Movement in the Market

Elsewhere, the AUD/USD pair posted the most impressive jump of up to 2.2%. The Aussie was buoyed by the RBA's surprise rate hike decision earlier in the week. 

However, AUD/USD had already retreated about 0.4% to the range of 0.7227 when the news was written. GBP/USD recorded the most severe daily decline of more than 0.8% to the range of 1.2533. 

Meanwhile, Sterling was weighed down by market concerns ahead of the announcement of several important economic reports from the UK today, including boe interest rates.

Market Participants are Paying Attention to the NFP Data

Those are also included the inflation and. results of the PMI survey. Non Farm Payrolls (NFP) data released by the America's Bureau of Labor Statistics, measures some changes about the workers outside the agricultural sector over a monthly period. 

This data is an early indicator for consumer spending and overall economic activity. It is one of the important considerations for the Fed in determining the benchmark interest rate.

The release of this data will always be the focus of market attention and usually have a high impact on the USD. An increase in the NFP number will cause the dollar to strengthen, while an NFP below market forecasts or even a minus will cause the currency to weaken.