Risky Assets Rally as Fed Scaled Back Rake Hike Forecasts

Risky assets jumped across the board after FOMC's dovish statement. In the commodity sector, energy prices rose across the board with the front-month WTI crude contract gaining +5.83% and the Brent contract up +4.1%. Gold jumped to a 3-day high of 1263.8, up US$30 from prior day's close, as the Fed scaled back its rate hike outlook and USD slumped. Gains were later erased with the benchmark Comex contract losing -0.095 at close.