7/30/2021 3:36:52 PM GMT The US Federal Reserve disappointed markets by showing no rush to taper. The US economy is expected to have added roughly 1 million jobs in July. EUR/USD has recovered nicely, but a course change has not been confirmed. The EUR/USD pair reached fresh July highs on the last trading day of the month, settling just below the 1.1900 level. The pair has advanced ever since the week started but gained momentum on Wednesday after the US Federal Reserve smashed the dollar. No time for tapering The US central bank left its monetary policy unchanged, as expected, and noted that the economy has continued to progress but noted that “substantial further progress” toward the Fed’s goal of stable prices and maximum employment has not yet been achieved. “We are not there yet,” said Chairman Jerome Powell in the Q&A that followed his speech. Market participants were hoping for some clues on how and when the US central bank will start to reduce its bond-buying programs launched to support the economy through the pandemic.