The U.S. dollar advanced against majors on Wednesday trading after Fed upbeat announcements.
The green currency rose for the second day after the Fed raised growth projections for the U.S. economy, thereby damping speculations the Fed may add to stimulus.
The Fed predicts a moderate economic growth gradual decline in joblessness as the labor market strengthens.
Yesterday, U.S. retail sales jumped 1.1% last month, marking the highest rise in five months, from 0.6% surge in January, while last week, non-farm payrolls report showed that the world's largest economy added 227,000 jobs last month, from the upwardly revised 284,000 jobs a month earlier.
The U.S. dollar is moving around 80.20 after opening today's trades at 80.12, according to the dollar index which tracks the dollar's movements versus a basket of major currencies.
Against the yen, the greenback rose to hit 11-month high, to trade around 83.47 after recording a high of 83.60 and a low of 82.85.The trading range for today is among key support at 82.00 and key resistance now at 85.00.
Moreover, the euro did not take advantage of the upbeat news of upgrading Greece's Long-term foreign and local currency Issuer Default Ratings to B- with Stable Outlook from Restricted Default, by Fitch which citedthe 96 percent participation in the distressed debt exchange.
The EUR/USD pair is currently is currently around 1.3083, where the day's high was touched at 1.3090 while the low was recorded at 1.3029.The trading range for today is among key support at 1.2840 and key resistance at 1.3250.
Moving to the British pound, it rose against the green currency despite the downbeat unemployment data which showed that the rate remained at 8.4%, 16-year high, in the three months through January, where jobless claims rose to 7.2 thousands ion February from a revised of 7.0 thousands.
The pair is trading around 1.5730 after recording a high of 1.5743 and a low of 1.56346, where the trading range for today is among key support at 1.5460 and key resistance at 1.5880.