FXstreet.com (Buenos Aires) - Wall Street rallied Wednesday afternoon after the Federal Reserve held interest rates steady, as expected, but issued a slightly more positive economic outlook, expecting economic activity to remain weak for a time as long as low levels of the federal funds rate for an extended period. However market take the better than expected statement as a risk appetite trigger, and DJIA gained 2.1% closing at the highest level since February 9th.
Dollar and Yen fall as risk appetite lead to unwind safe-haven positions, with Usd/Jpy hitting an intraday high of 97.97 from 96.40 early Asia opening and Eur/Jpy and Gbp/Jpy running above 350 pips in the day, breaking above key resistance levels, and about to change medium term bias.
After a Japan holiday past Tuesday, Nikkei 225 is expected to open higher with a probable downside continuation for both refugee currencies.
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