The dollar is stronger against a basket of currencies this morning as the markets digested news from the Federal Reserve’s monetary policy meeting, which concluded yesterday evening.
The Fed raised interest rates by 75 basis points, which marks the largest interest rate hike since 1994 and suggests that further hikes could take place this year. However, Fed Chair, Jerome Powell, stated that “today’s 75 basis-point increase is an unusually large one and I do not expect moves of this size to be common.”
Housing and unemployment data will be released for the US later today, with industrial and manufacturing production figures tomorrow.
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