US dollar drops sharply after FOMC meeting, DXY heads for the lowest close since February. Euro consolidate gains versus the greenback, rises further against the pound. The EUR/USD jumped from 1.1355 to 1.1447, reaching the strongest level since February 4. Afterward pulled back modestly and near the end of the session was hovering around 1.1440, up 80 pips for the day, having the best performance since January. The rally started after the Fed’s meeting that triggered a decline of the US dollar across the board. The central bank kept rates unchanged as expected and the FOMC staff projections signaled no rate hike for 2019. “Markets were universally poised for a very benign outcome, and the Fed dutifully delivered, their message overall matching the most dovish of expectations“, said Richard Franulovich, Head of FX Strategy, at Westpac. The Fed announced the end of the balance sheet reduction in September. After the meeting, equity prices rose and US yields tumbled. The 10-year dropped to 2.535%, the lowest in over a year, adding pressure to the greenback. The rally of EUR/USD was capped below 1.1450 that has become the key resistance ahead of the Asian session. The euro still holds a positive tone and the main risk ahead appears to be UK PM May’s speech to be delivered in a few minutes. If the pound reacts negatively, a sharp slide in GBP/USD could send EUR/USD lower. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next USD/JPY Technical Analysis: Greenback collapses towards 110.00 handle on dovish FOMC FX Street 4 years US dollar drops sharply after FOMC meeting, DXY heads for the lowest close since February. Euro consolidate gains versus the greenback, rises further against the pound. The EUR/USD jumped from 1.1355 to 1.1447, reaching the strongest level since February 4. Afterward pulled back modestly and near the end of the session was hovering around 1.1440, up 80 pips for the day, having the best performance since January. The rally started after the Fed's meeting that triggered a decline of the US dollar across the board. The central bank kept rates unchanged as expected and the FOMC staff… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.