GBP/USD crumbles after FOMC statement

FXStreet (Córdoba) - GBP/USD fell more than 130 pips in a matter of minutes following the release of the Fed statement.

The Federal Reserve decided to keep fund rates at historically low levels and reiterated they will remain for considerable time. However, the Fed sounded more hawkish than expected and upgraded its assessment of the job market's performance while noting short-term downside risks on inflation.

GBP/USD slumped and even left a gap on its move, but managed to halt the sell-off a few pips ahead of the 1.60 mark. At time of writing, GBP/USD is trading at 1.6016, having been as high as 1.6160 earlier on the day.

Oct 29, 2014

Gold declines below USD 1220

Gold prices have dipped below the USD 1220/Oz levels after the Federal Reserve announced the end of its monthly bond purchase program, while mentioning that the interest rates would continue to remain at the record low levels for a considerable period of time.

Fed terminates QE3; acknowledges improvements in labor market

Fed's QE3 time of death was 2 pm EDT at October 29, 2014. As expected. The Federal Reserve announced the end of its bond purchases program as the central bank mainly hinted in its previous meetings. The Fed also maintained its interest rate unchanged at 0.25%.