GBP/USD: Sterling initially dipped but recovered some ground against dollar after the U.S. Federal Reserve kept interest rates steady, citing still-elevated inflation alongside solid economic growth, and gave little indication in its latest policy statement of when borrowing costs might fall again. Noting broad internal support for the decision, Powell said the Fed remains "well-positioned" to assess when or whether another rate cut may be needed. USD/CAD: The Canadian dollar strengthened against the U.S. dollar on as investors digested Bank of Canada and Fed rate decisions. USD/JPY: The U.S. dollar rebounded on Wednesday as markets absorbed the Federal Reserve’s latest rate verdict.. Oil prices rose to their highest since ​late September on Wednesday on looming Iran concerns while a weak U.S. dollar lent further support.