EUR/USD halts Wednesday rally after Fed shifts away from rate cuts, Fiber falls from 1.0850
globalreutersJune 12, 20241 Mins read EUR/USD pivoted away from 1.0850 on Wednesday after the Federal Reserve (Fed) held rates as markets broadly expected, but a shift in the Fed’s “dot plot” of interest rate expectations is warning that interest rates are likely to continue holding higher for longer Fed leaves policy rate unchanged at 5.25%-5.5% as forecast The Fed’s interest rate outlook sees higher rates than previously expected, with the 1-year rate outlook rising to 4.1% from the previous 3.9%.
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This article was written by Greg Michalowski at www.forexlive.com.
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