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GBP/USD crumbles after FOMC statement

FXStreet (Córdoba) - GBP/USD fell more than 130 pips in a matter of minutes following the release of the Fed statement.

The Federal Reserve decided to keep fund rates at historically low levels and reiterated they will remain for considerable time. However, the Fed sounded more hawkish than expected and upgraded its assessment of the job market's performance while noting short-term downside risks on inflation.

GBP/USD slumped and even left a gap on its move, but managed to halt the sell-off a few pips ahead of the 1.60 mark. At time of writing, GBP/USD is trading at 1.6016, having been as high as 1.6160 earlier on the day.

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