FXStreet reports that analysts at TD Securities (TDS) offer their afterthoughts on the January Fed monetary policy decision.

“Changes to the statement were relatively small, consistent with no near-term plans for policy changes. Nor did the chairman suggest a need for changes to current accommodative policy settings anytime soon. While he expressed some optimism about growth in the year ahead, he emphasized that the economy is a "long way" from the Fed's goals and talk of tapering is "premature."

“We maintain that near-term tactical risks favor a firmer USD and more focus may be placed on FX/equity correlations, which have only recently started to firm. Against this backdrop, the dollar bloc could lead losses, with AUDUSD looking rather precarious.”