US dollar drops across the board after the Fed kept monetary policy unchanged. XAU/USD approaches the record high it reached on Tuesday at $1,981. A slide of the US dollar boosted gold prices further to the upside, after the FOMC meeting. XAU/USD broke above $1,960 and jumped to $1,968, hitting a fresh daily high. It is holding near the top, supported by a modest slide of the greenback. The US Dollar Index fell to 93.25, reaching a fresh two-year low. Silver remains in the intraday range, between 24.00 and 24.50. XAG/USD continues to trade flat around yesterday’s closing level but now near the daily high. Could the Fed trigger another USD sell-off? The Fed kept rates unchanged as expected. The FOMC statement was little change from the June meeting. In a few minutes, Chairman Powell will deliver a press conference. His word could add fuel to the decline of the dollar triggering another sell-off or help it recover ground from fresh lows. US yields so far remained steady. If Treasuries start rising and the dollar remains under pressure, XAU/USD could rally further to test the record high set on during the Asian session on Tuesday at $1,981. A break higher could create more volatility and would clear the way for a test to $2,000. Technical levels 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 Powell speech: Household spending looks to have recovered about half of earlier decline FX Street 3 years US dollar drops across the board after the Fed kept monetary policy unchanged. XAU/USD approaches the record high it reached on Tuesday at $1,981. A slide of the US dollar boosted gold prices further to the upside, after the FOMC meeting. XAU/USD broke above $1,960 and jumped to $1,968, hitting a fresh daily high. It is holding near the top, supported by a modest slide of the greenback. The US Dollar Index fell to 93.25, reaching a fresh two-year low. Silver remains in the intraday range, between 24.00 and 24.50. XAG/USD continues to trade flat around yesterday’s closing level but… 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.
