The dollar plunged through the morning session, after much weaker Q1 GDP data dented sentiment, doubly so ahead of an FOMX announcement that was already expected to lean on the dovish side. EUR-USD opened just under 1.1000, and make its way to 1.1188 highs ahead of the Fed. The pairing eased back slightly ahead of the 14:00 EDT statement release, before falling back on the Fed’s downgraded economic outlook, and on general profit taking. The greenback moved lower against the other majors through the morning, taking USD-JPY to 118.61 lows.