Wednesday, June 23, 2010

Dollar falls across the board after FED statement


The Dollar is retreating across the board following the Federal Reserve decision on monetary policy. The FED left rates unchanged and said that economic recovery “is proceeding” and “labor market is improving gradually”. EUR/USD jumped to test 1.2300. 

USD/JPY broke below 90.00 and fell to 89.90, reaching a fresh 3-week low. According to Valeria Bednarik, collaborator at FXstreet.com andcovering live FED’s decision at the homepage, if the pair falls below 89.70/80, the Yen could gain momentum and “approach to the 89.20 lows printed past month”. 

GBP/USD has risen back above 1.4900 and is nearing daily highs that lie at 1.4943. 

EUR/USD (Jun 23 at 21:41 GMT)

1.2314/15 (0.36%)

H 1.2345 L 1.2208

S3S2S1R1R2R3
1.22481.22791.23101.23271.23581.2389
[?]Trend Index[?]OB/OS Index
Slightly BullishNeutral
Data updated on Jun 23 at 19:38 (15-minute timeframe)

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