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Session Recap: USD down on risk appetite; Fed reaffirms QE

FXstreet.com (San Francisco) - The USD has traded lower on Wednesday as investors digested Cyprus fears and the Fed improved its unemployment forecast but cut GDP expectations. Market assumed that the Fed will keep stimulus until 2015 at least.

The EUR/USD recovered the 1.2900 zone and after peaking at 1.2975, the pair closed at 1.2930. The GBP/USD has been trading in range as the last days, the pair opened and closed at 1.5097. The USD/JPY was the bullish pair with the cross advancing to trade above the 96.00 level.

Main headlines in the American Session:

American equity markets advance Wednesday

Commodities Brief – Previous metals trade lower ahead of FOMC, crude falls below 93.00

Forex: EUR/USD finds resistance at 1.2970 ahead of EMU confidence

EMU: Consumer confidence (flash) disappoints, at -23.5 in March

Fundamental Afternoon Wrap: UK releases budget as Cyprus updates wane

Forex: EUR/USD ignores EMU confidence, all eyes on US FOMC

ECB to delay vote on Cypriot emergency lending funds

Cyprus looks for Russian help

Forex: GBP/USD pares gains to trade at 1.5128/31

The Federal reserve leaves unchanged its interest rate at 0.25%

Forex: USD/JPY eases to 95.40/42 after Fed

Forex: EUR/USD sticks to 1.2950/60 on Fed decision

The Fed lowers unemployment forecast but also cuts GDP growth projections

Forex: GBP/USD eases further on Bernanke comments

Forex: USD/JPY surges past resistance to test 96.00 level

Forex: EUR/USD eases off highs to 1.2939/40

Forex: USD/CAD recovers the mark of 1.0260/62

Wall Street closes higher after the Fed reaffirms stimulus

Forex: GBP/USD tests 1.5100 level

Forex: GBP/USD tests 1.5100 level

After falling around 85 pips from 1.5185 to test the 1.5100 level, the GBP/USD bounced to 1.5140 but the recovery wasn't strong enough and currently the pair is trading back at 1.5100 level where the pair remain testing the price.
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