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Session Recap: USD falls across the board on Fed and recovery concerns

FXstreet.com (San Francisco) - The Greenback declined on Wednesday as the likelihood of the Fed tapering its current stimulus programme plus concerns about global growth were weighting on investors’ sentiment. The EUR/USD advanced to test the 1.2980 and to close above the 1.2900.

The GBP/USD recovered from 1.50 lows to end the day around 1.5130 and the USD/JPY retraced almost all Tuesday gains with the pair testing 2-week lows around 100.70.

Main headlines in the American Session:

Moody’s affirms Finland’s AAA rating

BoC maintains interest rate at 1%, as expected

US markets retreat on Fed, global growth jitters

French FinMin: EU backs move to delay 3% deficit target

Wall Street closes down on Fed tapering concerns

Wall Street closes down on Fed tapering concerns

The US stocks market declined on Wednesday as investors were concerned on the possibility of the Fed tapering the QE in the short term.
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USD/CAD consolidates lows around 1.0345

Following a 60 pips decline from the 1.0400 area to break down the 1.0350 and trade at session lows at 1.0340, the USD/CAD is consolidating lows around the 1.0345, 0.40% down from Wednesday's open.
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