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US stocks close in a huge rally amid FOMC minutes

FXStreet (San Francisco) - Wall Street performed its best day of the year as investors welcomed FOMC minutes upbeat Costco earnings report. Stocks recovered Tuesday's sellof.

FOMC minutes commented participants' concern about strong USD as well as a debate about the the possibility to revamp forward guidance. USD reacted down while gold jumped and oil was down too. Minutes showed a dovish Fed; so investors assumed the Fed will have additional problems to hike rates anytime soon.

The Dow Jones rallied 274.83 points or 1.64% to finish at 16,994.22; the S&P 500 added 33.79 pts or 1.75% to close the day at 1,968.89; while the Nasdaq Composite won 83.39 pts or 1.90% to 4,468.59.

USD/JPY now testing 108.20 key support

USD/JPY is trading at 108.26, up 0.22% on the day, having posted a daily high at 108.76 and low at 107.75.
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Dollar weakness puts the GBP/USD at 1.6180

The GBP/USD jumped around 150 pips post FOMC minutes from 1.6030 to break 1.6100 key resistance an to trade at nearly 1-week highs at 1.6180.
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