Forex: Thursday results.[E]

USD remains near local highs versus main currencies almost all day long.

Investors played with vigilance ahead FOMC decision which put a slide light on further market movements. "The market awaits for hawkish accompanying statement," said Teruhisa Tsuji, trader of Tokyo Mizuho Corporate Bank Ltd.

The Commerce Department issued final GDP Q1 growth with increase. The pace of economic growth showed the highest for recent 4 years and came to 5.6%, that higher than preliminary 5.3%.

There was no surprise US refinancing rates boosted yesterday eve on a quarter-percent points to 5.25%.

USD reacted with a sharp drop as FOMC statement appeared less hawkish as it was expected. The key words said : «Statistic data testify moderate rates growth impacted by the Real estate cooling. The core inflation showed lift last months, however, inflation expectations remain contained.»

Thus Fed left a question on further rates move opened but hinted rates upside pace came closer to the end.

Interest rates futures now show 62% chance August key rates hike to 5.50%. Before FOMC decision this possibility estimated 78% and prior week testified 93% chance.

EUR/USD has overcome the bottom border of a range of the Asian session $1.2535/50 and has reached $1.2518 before got support in area $1.2520. After FOMC decision data the rate has sharply grown in area $1.2670 where finished trades after insignificant rebound.

GBP/USD remained within the limits of $1.8150/80. Later BOE President speech on uncanged inflation picture brought extra pressure upon pair which absorbed stops in $1.8120 and showed a session low on $1.8103. During dollar fall after FOMC decision highlighted a rate practically lifted to $1.8300. After insignificant recoil the pair closed on $1.8270.

USD/JPY remained in a range Y116.35/60. But by the American session the pair rebounded to Y116.00. Further the rate took support on Y115.80 and dropped to Y114.80. Trades closed on Y115.00.

The extra fact for EUR strengthening can gave data on EU economy retracement. In particular we should remind German unemployment reduction in May.

Ultimately, EU officials continue hint on further rates hike. Garganas emphasized EU rates remain on historical lows and Sweden Central bank President spoke on possible more hawkish rates boost in EU.