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EUR/USD raced to a six-week excessive on Thursday, as markets continued to react to the U.S. Federal Reserve’s 25-basis-point price hike. The dollar was decrease throughout the board, falling versus a number of G7 currencies, together with the British pound.
EUR/USD
On Thursday, the world’s most traded foreign money pair rose for a sixth straight session, as markets continued to digest yesterday’s price hike.
The Federal Reserve opted to extend charges by 0.25%, regardless of latest uncertainty within the banking sector.
Following the announcement, Fed Chair Jerome Powell acknowledged that “FOMC individuals don’t see price cuts this 12 months, it isn’t our baseline expectations.”
Total, it seems that reducing inflation stays the precedence for the Fed, with the U.S. Treasury exploring methods to ensure consumer deposits ought to any additional banks face liquidity points.
EUR/USD rose to an intraday excessive of $1.0929 in in the present day’s session, which is its highest price since February 3.
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