Published by Jamie JemmesonThe US dollar was up against most of its major currency counterparts in global forex trading yesterday.The euro, pound and the Australian dollar all recorded drops against the greenback in trading sessions, giving the dollar a boost.The only currency it fell against was the yen, dropping 0.09 per cent. According to Forex Pros, the latter stood firm with the Bank of Japan having revealed plans to stick with its benchmark interest rate of 0.1 per cent.Currency strategist at RBC Capital Markets Christian Lawrence commented on the day's forex trading events, telling Reuters there was "some squaring up of short positions" before the Fed's policy meeting.He added: "There is some risk-off sentiment [and] Asian stocks closed lower, prompting a selloff in high yielders such as the Australian dollar."In its Open Market Committee statement, a Fed spokesperson said while it anticipates economic recovery, it is likely to be modest initially.For more information on foreign exchange treasury services and risk management, visit our Corporate FX site.