EUR/USD
As the sound of the opening bell is approaching in Europe, the EUR/USD is retreating to mid-1.3500s, after only recently ascending above 1.3585.
The pair moved lower ahead of events in Europe, in about a 40-pip range to 1.3544 low. The euro was nearing 14-month highs against the dollar on Thursday after the FED reiterated its pledge to upholding its easing program after its latest policy meeting on Wednesday. EUR/USD hit 1.3584 throughout late-night Asian trade, but consequently consolidated at 1.3555, plummeting 0.07%.
GBP/USD
GBP/USD hit 1.5836 - highest since January 24 - during early morning trading in Europe and eventually consolidated at 1.5831, gaining 0.20%. The worse-than-expected GDP numbers from the US mean that the sentiment on the dollar is relatively weak especially after the Fed announced that it will carry on its quantitative easing program unless the labor market improves significantly.