EUR/USD: Euro is growing steadily in the middle of the week

The pair EUR/USD is traded upward at the Forex currency market on Wednesday, due to decisions of the U.S. Federal Reserve.

By 0.30 Moscow time the Euro is at 1.4368 against yesterday’s closing level of 1.4350.
 
Thus, yesterday the U.S. Federal Reserve left interest rate unchanged in the target range of 0-0.25% per annum, and specified for the first time in a long while what lies behind the definition of maintaining soft policy for a “long time”: the rate is not going to be raised before mid-2013; although some monetary politicians in the U.S. believe that this plank has been lifted too high in terms of time period.

In the follow-up comments FR clarified that downward risks are increasing in the American economy and if required, regulator will activate additional financial instruments to stabilize the situation.

Meanwhile, the USD remains in a disadvantageous position, although no one speaks about QE3.

Most likely the pair EUR/USD will not go beyond the range of 1.4300-1.4410 at the trading session on Wednesday.