EUR/USD jumps due to FOMC

Note: This section contains information in English only.
Source: Dukascopy Bank SA
On Wednesday, at 18:00 GMT, the EUR/USD surged, as the US Federal Reserve Federal Open Market Committee issued a monetary policy statement. The currency exchange rate surged 73 pips or 0.61% in the span of 40 minutes following the release.

In general, the statement revealed that US interest rate hikes are not to be expected. In addition, the Fed is set to continue its monetary stimulus until it sees actual economic recovery instead of just forecasts of recovery. These announcements caused a broad drop of the USD.

The Monetary Statement can be read here.

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