Dollar slips, pairs swing wide as Fed holds press conference
The US Federal Reserve (Fed) held its press conference on Wednesday 28 October 2026 at 18:30 GMT. No details of the remarks were available, but currency and futures markets moved sharply in the following 30 minutes.
The US Federal Reserve (Fed) held its scheduled press conference on Wednesday 28 October 2026 at 18:30 GMT. No details of what was said or any data figures were available for this note.
In the 30 minutes that followed, the dollar weakened against both the euro and the pound. EUR/USD rose from 1.1137 to 1.1156, up 19 pips (+0.17%), with a 40-pip range between 1.1132 and 1.1172. GBP/USD gained 20 pips (+0.15%), moving from 1.3300 to 1.3320 across a 42-pip range.
USD/JPY fell 21 pips (-0.13%), from 158.26 to 158.05, swinging through a wider 50-pip range between 157.85 and 158.35.
Gold futures edged down 0.08%, from 4049.40 to 4046.10, after ranging between 4036.90 and 4081.20. S&P 500 E-mini futures rose 0.05%, from 7769.00 to 7772.50, with a range of 7756.25 to 7794.25.
Fed press conferences can move interest-rate expectations, which in turn affect the dollar, gold and equity futures; the wide intraday ranges seen here reflect how quickly those expectations can shift as the remarks are digested.
Moves: last price before the release to the price 30 minutes later, from 1-minute data (Yahoo Finance); S&P 500 = E-mini futures, gold = COMEX futures.