Forex - Euro extends rally vs. dollar after Fed holds rates steady

Forex Pros – The euro extended its recent rally against the U.S. dollar into a second day on Thursday, hitting a 3-day high after the Federal Reserve held its benchmark interest rate at a historic low.

EUR/USD hit 1.2352 during late Asian trade, its highest since Tuesday; the pair subsequently consolidated around 1.2332, gaining 0.17%.

The pair was likely to find resistance at 1.2466, Monday's high, and support at 1.2115, the low of June 14.

In a statement, the Fed's Federal Open Market Committee said it was maintaining its federal funds rate target between zero and 0.25%, reiterating a pledge to keep it there for "an extended period."

The euro climbed versus sterling, meanwhile, with EUR/GBP advancing 0.07% to reach 0.8236.

Later in the day, the U.S. was due to publish key data on durable goods orders, a leading indicator of production. The U.S. was also scheduled to release data on initial jobless claims, a key indicator of overall economic health.