GBP/USD hovering around 1.6950 after FED

By FXstreet.com | Updated July 30, 2014 AAA

FXStreet (Córdoba) - The US dollar is now weakening across the board after the FOMC statement and ahead of Yellen’s press conference. The GBP/USD initially rose to 1.6975 and then bottomed at 1.6919, reaching a 4-day low but bounced again and currently trades above 1.6955.



As expected, the FED announced another cut in the purchase program and made no substantial changes in the statement compared to last month.



After the release European currencies lost momentum across the board, particularly against the Kiwi and the Aussie. The GBP/AUD broke below 1.8125 falling to fresh daily lows.



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