Data showed today that the US pending home sales index rose more than expected during the previous month, which shows a partial recovery from the coronavirus sharp impact on the housing sector.

The pending home sales reading for June rose by 16.6% to 116.1 points, beathing forecasts of 15%. The index also rose by 6.3% on the year-over-year reading.

Silver prices inched up on Wednesday, despite the continued drop in the US dollar following the Federal Reserve's decision.

The US Federal Reserve kept the interest rate unchanged between zero and 0.25% in a widely expected move, and ruled out any rate hikes before the full recovery of the economy from the coronavirus impact through inflation rising near the Fed's target and the rise of employment pace.

The dollar index fell against a basket of currencies by 0.3% to 93.4 points as of 20:00 GMT, after it hit a high of 93.8 and a low of 93.1.

Investors are anticipating important data releases in the US tomorrow, with the GDP reading and the weekly unemployment claims.

Silver September futures rose 0.1% to close at the highest level since April 2013 of $24.321 an ounce, after hitting today's high at $25.12 and the low of $23.435.

The British pound rose against most currencies on Wednesday, lifted by upbeat data, but retreated slightly below the $1.30 barrier that was hit earlier.

Data showed today the UK's mortgage approvals index rose to 40,000 in June, higher than forecasts of 35,000, and higher than 9,000 in May.

Net lending to individuals reached 1.4 billion pounds in June, beating forecasts of 400,000 pounds.

British Prime Minister Boris Johnson warned yesterday that despite the coronavirus infections receding in many countries, a second wave may hit the European countries, including the UK.

The lingering uncertainty over the Brexit file continued, due to the deep differences between between London and Brussels on many major issues.

As of 19:56 GMT, GBP/USD rose 0.4% to 1.2983, after hitting a high of 1.312 and a low of 1.2912.

The US dollar fell against most currencies on Wednesday, to deepen its losses following the Federal Reserve's interest rate decision.

The US Federal Reserve kept the interest rate unchanged between zero and 0.25% in a widely expected move.

The Fed ruled out any rate hike before the full recovery of the economy from the coronavirus impact through inflation rising near the Fed's target and the US employment recovering.

However, the Fed sees improvement in the US economy and the labor market, as some economic activity recovered to their pre-pandemic levels. 

The central bank also stressed again on taking all the necessary tools and measures until the economy recovers and returns to its growth path.

The dollar index fell against a basket of currencies by 0.3% to 93.4 points as of 19:16 GMT, after it hit a high of 93.8 and a low of 93.1.