Fed Interest Rate Decision comes in at 3.75% against 3.75% consensus
| Pair | Now | Since publish |
|---|---|---|
| EURUSD | — | — |
| USDJPY | — | — |
The Federal Reserve today, July 29, 2026, announced its Interest Rate Decision, holding the rate steady at 3.75%. This figure matched the market consensus of 3.75% and was unchanged from the previous rate of 3.75%. The release showed a 0.0% surprise against consensus expectations.
Following the announcement, the US Dollar showed broad weakness against major currencies. Fifteen minutes after the release, AUDUSD was up +21 pips, EURUSD gained +29 pips, and GBPUSD rose +34 pips. NZDUSD was up +20 pips. Conversely, USDCHF fell -25 pips, USDCAD dropped -26 pips, and USDJPY declined -25 pips. Gold, XAUUSD, saw a significant rise of +339 pips. For context, the median 1-hour moves for these pairs after similar past releases range from 21 pips for USDCHF to 32 pips for GBPUSD, and 79 pips for XAUUSD. The observed moves for most USD pairs are currently below or around their historical median 1-hour moves, while XAUUSD’s move is notably larger than its median 79 pips move and above its top-quarter threshold of 155+ pips.