EUR/USD Hits 6-Week High, as Greenback Weakens Following Fed Hike

EUR/USD raced to a six-week high on Thursday, as markets continued to react to the U.S. Federal Reserve’s 25-basis-point rate hike. The greenback was lower across the board, falling versus several G7 currencies, including the British pound.


On Thursday, the world’s most traded currency pair rose for a sixth straight session, as markets continued to digest yesterday’s rate hike.

The Federal Reserve opted to increase rates by 0.25%, despite recent uncertainty in the banking sector.

Following the announcement, Fed Chair Jerome Powell stated that “FOMC participants don’t see rate cuts this year, it is not our baseline expectations.”

Overall, it appears that lowering inflation remains the priority for the Fed, with the U.S. Treasury exploring ways to guarantee client deposits should any further banks face liquidity issues.

EUR/USD rose to an intraday high of $1.0929 in today’s session, which is its highest rate since February 3.

Register your email here to get weekly price analysis updates sent to your inbox:

Tags in this story

Do you expect EUR/USD to move lower in the coming days? Leave your thoughts in the comments below.

Eliman Dambell

Eliman was previously a director of a London-based brokerage, whilst also an online trading educator. Currently, he commentates on various asset classes, including Crypto, Stocks and FX, whilst also a startup founder.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

Read disclaimer

Articles You May Like

Trump and Biden campaigns set for duelling London fundraisers
Tesla shareholders approve Elon Musk’s $56bn pay deal and Texas move
Putin sets out Ukraine ceasefire conditions
Rishi Sunak puts tax cuts at the centre of Tory election manifesto
Luxury homes on these beaches are losing value fast, as effects of climate change hit hard