The Euro Is Booming In A Complete Reversal Since This Morning

The euro staging a monster comeback agains the dollar right now, rising about $0.01 in under an hour.

The European currency took a spill under $1.30 this morning after some comments from IMF Managing Director Christine Lagarde, but that weakness is nowhere to be found right now.

The United States’ Federal Open Market Committee’s latest interest rate decision could be giving fire to this rally. It expects to keep the federal funds rate “exceptionally low” until late 2014—longer than investors had expected—which suggests dollar weakeness for the foreseeable future.

Check out the euro’s value versus the dollar since early today: