EUR/USD drops sharply and falls below 1.1000 after FOMC statement

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Oct 28, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    FXStreet (Córdoba) - EUR/USD dropped sharply, losing more than a hundred pips in a few minutes after the release of the Federal Reserve statement. Greenback jumped in the market after the decision to leave rates unchanged as expected, boosted after the statement mentioned that the central bank will determine in the next meeting if it is appropriate to raise rates.

    The euro was among the most affected currencies and dropped sharply against the dollar and also versus the pound and the yen.

    EUR/USD below 1.1000

    The pair bottomed at 1.0963, hitting a fresh 2-month low. Then it bounced modestly to the upside but it remains under 1.1000, headed toward the lowest daily close since August 6.
    For more information, read our latest forex news.

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