Dollar falls back after Powell adopts a decidedly dovish stance- GBP/USD lifts to session highs

The Fed Boss, Jerome Powell is still debriefing the press after the Fed left policy on hold and for the most part the bent of his rhetoric has been decidedly dovish and that has pushed the dollar back down again. The rise in the USD/JPY to a post FOMC high at 151. 26 has long since given way to a more than 100 pip decline since. The EUR/USD has lifted too and the US stock markets are gaining further traction as the outlook for a September rate cut become more entrenched into market pricing. That said, all three major indexes are off their best levels of the session right now. The GBP/USD is right now mirroring that dollar weakness, as the Pound lifts to session highs around 1.2865 and remember it is over the Bank of England tomorrow to decide on monetary policy. There will be plenty to add on that prospect in updates tomorrow morning.