Today's forex news: US Dollar Falls after Hawkish Fed Announcement
EUR/USD ⬆️
GBP/USD ⬆️
AUD/USD ⬆️
USD/CAD ⬇️
USD/JPY ⬆️
XAU ⬆️
WTI ⬇️
On Wednesday, the U.S. Federal Reserve raised interest rates to 2.5%, also preparing further measures to contain inflation. However, the hawkish attitude was not thorough enough to strengthen the dollar against most major currencies, with EUR/USD closing at 1.1032 and GBP/USD at 1.3145. Meanwhile, investors await the Bank of England’s Interest Rate Decision – which will be announced later today (17 March).
The AUD/USD pair saw a rise with the closing price at 0.7289, thanks to a positive job report indicating lower-than-expected unemployment rate at 4%, and an increase in gold prices at a closing price of 1,909.2, which is another response to the restrictive US monetary policy.
US dollar struck a six-year high at 119.12 against Japanese Yen, as the east Asian country experienced a 7.3 magnitude earthquake yesterday (16 March), investors look to a safe haven currency until the earthquake’s aftermath is settled.
Crude Oil, on the other hand, has settled lower at $95.04 per barrel. Since the US has increased its oil inventory, combined with optimism for other oil-producing OPEC members to increase supply, and China’s COVID outbreak slowing global consumption.
Major U.S. stock indexes have surprisingly rallied despite the Federal Reserve’s decision to increase borrowing costs.
United States 10-Year Bond Yield stabilized its rise, closing at 2.187%.
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EUR/USD ⬆️
GBP/USD ⬆️
AUD/USD ⬆️
USD/CAD ⬇️
USD/JPY ⬆️
XAU ⬆️
WTI ⬇️
On Wednesday, the U.S. Federal Reserve raised interest rates to 2.5%, also preparing further measures to contain inflation. However, the hawkish attitude was not thorough enough to strengthen the dollar against most major currencies, with EUR/USD closing at 1.1032 and GBP/USD at 1.3145. Meanwhile, investors await the Bank of England’s Interest Rate Decision – which will be announced later today (17 March).
The AUD/USD pair saw a rise with the closing price at 0.7289, thanks to a positive job report indicating lower-than-expected unemployment rate at 4%, and an increase in gold prices at a closing price of 1,909.2, which is another response to the restrictive US monetary policy.
US dollar struck a six-year high at 119.12 against Japanese Yen, as the east Asian country experienced a 7.3 magnitude earthquake yesterday (16 March), investors look to a safe haven currency until the earthquake’s aftermath is settled.
Crude Oil, on the other hand, has settled lower at $95.04 per barrel. Since the US has increased its oil inventory, combined with optimism for other oil-producing OPEC members to increase supply, and China’s COVID outbreak slowing global consumption.
Major U.S. stock indexes have surprisingly rallied despite the Federal Reserve’s decision to increase borrowing costs.
United States 10-Year Bond Yield stabilized its rise, closing at 2.187%.
📱 Get instant market news delivered to you in real time on Mitrade