EUR/USD Hits 6-Week High, as Greenback Weakens Following Fed Hike

2 years ago

EUR/USD raced to a six-week precocious connected Thursday, arsenic markets continued to respond to the U.S. Federal Reserve’s 25-basis-point complaint hike. The greenback was little crossed the board, falling versus respective G7 currencies, including the British pound.

EUR/USD

On Thursday, the world’s astir traded currency brace roseate for a sixth consecutive session, arsenic markets continued to digest yesterday’s complaint hike.

The Federal Reserve opted to summation rates by 0.25%, contempt caller uncertainty successful the banking sector.

Following the announcement, Fed Chair Jerome Powell stated that “FOMC participants don’t spot complaint cuts this year, it is not our baseline expectations.”

EUR/USD Hits 6-Week High, arsenic Greenback Weakens Following Fed Hike

Overall, it appears that lowering ostentation remains the precedence for the Fed, with the U.S. Treasury exploring ways to warrant lawsuit deposits should immoderate further banks look liquidity issues.

EUR/USD roseate to an intraday precocious of $1.0929 successful today’s session, which is its highest complaint since February 3.

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Eliman Dambell

Eliman was antecedently a manager of a London-based brokerage, whilst besides an online trading educator. Currently, helium commentates connected assorted plus classes, including Crypto, Stocks and FX, whilst besides a startup founder.

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