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Currency traders refuse to stop selling U.S. dollars. The more pessimistic outlook from the Federal Reserve should have driven traders back into the safety of U.S. dollars, but instead they drove the U.S. dollar even lower. In fact, the greenback fell to the weakest levels this year against the British pound, Canadian and Australian dollars. Even though the U.S. dollar is still a ways from its year to date lows against the euro (at 1.4070) and the Japanese Yen (at 87.13), it is closing in on significant levels against the New Zealand dollar. The breakdown in the dollar has been very significant and further weakness is possible, but the bleeding could slow as the major currency pairs head towards critical levels. The 1.40 level will be significant resistance for the EUR/USD, 
while 1.60 is the level to watch in the GBP/USD.
Source: FX360.com