Share: German’s GFK Consumer Confidence Survey unexpectedly fell to -8.8 in May. The Fed is not thinking about tapering but for sure sees things improving. EUR/USD holds on to intraday gains and could extend its rally towards 1.2200. The EUR/USD pair reached fresh April highs after the US Federal Reserve announced its monetary policy decision. The US Central Bank maintained its monetary policy unchanged as widely anticipated, making just minor adjustments to the accompanying statement. US policymakers see inflation and employment performing a bit better than when they met before but maintained their cautious stance about the persistent risks to the economy. Inflation has risen, "largely reflecting transitory factors."