FXstreet.com (Barcelona) -The U.S Dollar has reversed previous weakness against the Euro and Pound , appreciating against all majors after the The Federal Reserve's Monetary Policy Committee has decided to maintain the target range for the federal funds rate at 0% to 0.25% while observes a slowdown in the pace of economic contraction.
EUR/USD rally has halted at 1.3340 high, the highest level seen since mid April and has returned to levels around 1.3250 (50% fib retracement of the 5-22 April decline).
GBP/USD has reached an intra-week high at 1.4815 to drop to levels around 1.4745 ( Apr 23 high). At the moment the Pound trades at 1.4765.
USD/JPY has soared from levels around 97.10 before the FOMC statement to a maximum level at 97.98, although the pair has faoled to keep those levels and has been rejected at 38% fib retracement of the April decline, approximately located at 97.85. At the moment the Dollar trades around 97.50.
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