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Forex pairs in this Article » EUR/USD (Barcelona) - (Athens)- Danske Bank strategists mention that Fed’s decision not to taper weighed significantly on USD and EUR/USD traded above 1.35 and USD/JPY dropped below 0.98.

Key Quotes

“The move out of the dollar reflects that the dovish stance of the FOMC took the FX market by surprise and that many long USD positions were in place ahead of the announcement. Given positioning and the possibility of further positive economic surprises from the eurozone, risk is still tilted towards a higher EUR/USD the coming weeks.”

“We would also argue that in general the USD crosses have now become even more US data sensitive as upcoming US data will be pivotal in judging when or if tapering will start.”
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