11 days ago • Posted by Ajmir Omid

US #dollar looks weaker post #fedmeeting #fx #eurusd

The US central bank’s policy-setting Federal Open Market Committee on Wednesday voted unanimously to increase the benchmark rate by 50 bps in an attempt to avoid an overheat in the economy. The dollar which reached a multi-year high against major currencies on the back of very aggressive tightening, dropped yesterday after Fed's Powell downplayed the likelihood of a 75 point rate hike, taking away major support for the dollar. A weakness in the dollar was a big boost for the euro, taking it 100 pips higher.