FXstreet.com (Córdoba) - Markets in Europe and the U.S. rose on optimism about economic recovery. Crude-oil soared rising more than 2.50% and also gold rose. The Dollar fell sharply across the board, reaching fresh 2009 lows against EUR, CHF and NZD. Tomorrow the Federal Reserve will decide on interest rates and on monetary programs.
Weak Dollar ahead of the FEDs decision
Greenback started to rally downside during the European session and continued in that direction during the American ending the day near the lows. EUR/USD jumped from below 1.4700 to 1.4820, posing the highest price in almost a year. The last time it traded above 1.4800 was on September 23 of last year. EUR/USD failed to finish the day above the mention zone.
Against Cable, Dollar lost more than 150 pips. GBP/USD rose sharply finding resistance near the 1.6400 zone. The pair had on Tuesday the biggest daily gain in almost two weeks.
USD/JPY plunged to 90.90 and from there the Dollar timidly recovered to 91.25. The pair failed to hold above 91.80 during the Asian session and weakened starting to rally downside. Despite moving sideways in the last hours, the pair still faces a downside pressure.