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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 buck 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 current uncertainty within the banking sector.
Following the announcement, Fed Chair Jerome Powell said that “FOMC contributors don’t see price cuts this yr, it isn’t our baseline expectations.”
General, it seems that decreasing inflation stays the precedence for the Fed, with the U.S. Treasury exploring methods to ensure shopper deposits ought to any additional banks face liquidity points.
EUR/USD rose to an intraday excessive of $1.0929 in at the moment’s session, which is its highest price since February 3.
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