Session Recap: USD falls across the board on Fed and recovery concerns

FXstreet.com (San Francisco) - The Greenback declined on Wednesday as the likelihood of the Fed tapering its current stimulus programme plus concerns about global growth were weighting on investors’ sentiment. The EUR/USD advanced to test the 1.2980 and to close above the 1.2900.

The GBP/USD recovered from 1.50 lows to end the day around 1.5130 and the USD/JPY retraced almost all Tuesday gains with the pair testing 2-week lows around 100.70.

Main headlines in the American Session:

Moody’s affirms Finland’s AAA rating

BoC maintains interest rate at 1%, as expected

US markets retreat on Fed, global growth jitters

French FinMin: EU backs move to delay 3% deficit target

Wall Street closes down on Fed tapering concerns