Dollar Falls 1.5%, Then Recovers After Fed Meeting

The US dollar suffered a decline of about 1.5% after the Federal Reserve meeting due to lack of signals from the Fed and a sharp yen rally, but has since partially recovered its losses.

The Canadian economy grew 0.3% in May, exceeding expectations, with Canada's GDP rising 1.7% on a year-over-year basis, also ahead of the 1.4% consensus.

The EUR/USD exchange rate has risen above 1.15 driven by US dollar weakness and better-than-expected Eurozone GDP performance.