Fed moves opens some upside room for EUR/USD in short term

The USD continued to feel some pressure yesterday already ahead of the Fed, while the EUR performed much better. The moves were generally not huge, though. 

Clearly, the Fed meeting has been a great source of uncertainty lately. And after the meeting, Fed policy uncertainty is not really lower.

"The Fed move opens some more upside for EUR/USD in the short term, especially as it will probably take time for the ECB to respond with dovishness. As for the medium-term trend, a stronger USD is expected on the back of assessment that the US recovery is on track and that a rate hike will come soon", says Nordea Bank.