Sterling GBPUSD rose to a three-week high of $1.2296, while the euro. EURUSD last bought $1.0606, not far from Tuesday's more than two-week top of $1.0620.
"The Fed is shifting away from further rate hikes, and its tightening bias too may be dropped by December," said Thierry Wizman, Macquarie's global FX and interest rates strategist.
U.S. Treasury yields have similarly tracked lower following the dovish Fed comments, with the two-year yield (US2YT=RR), which typically reflects near-term rate expectations, hitting a one-month low of 4.9260% on Tuesday. It was last at 4.9675%.
"The Fed is shifting away from further rate hikes, and its tightening bias too may be dropped by December," said Thierry Wizman, Macquarie's global FX and interest rates strategist.
U.S. Treasury yields have similarly tracked lower following the dovish Fed comments, with the two-year yield (US2YT=RR), which typically reflects near-term rate expectations, hitting a one-month low of 4.9260% on Tuesday. It was last at 4.9675%.
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