EUR/USD Soars As FOMC’s Dot Plot is More Dovish Than Expected

The FOMC has held rates at 0.25% as widely expected by market analysts. However, it is the contents of the rate statement that is starting to create dovish pressures on the US Dollar. The markets were watching for the median dot plot for 2023. Despite initial feelers that there will be no hike until then, it is being reported that four policymakers on the FOMC board want to see rates start to rise in 2022. However, this is not stopping the markets from reacting to what is now a more dovish-than-expected dot plot from the FOMC. As a result, the EUR/USD has reversed earlier losses for the day and is now trading 0.65% … (full story)

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