FOMC hiked federal funds rate corridor by 25 basis points, to 1.50% - 1.75%, no surprises here. Economic outlook was upgraded but the committee did not explicitly signal further three hikes this year and that was part of the reason why the U.S. dollar sold off. In essence, traders just jumped on the trade in line with broader (macro) direction. EUR/USD closed the day above 1.2330 pivot and 50 DMA. 1.24 is the initial resistance on the way to 1.25, and beyond.
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