Fed cuts rates more than expected

Source: Dukascopy Bank SA


The United States Federal Reserve has cut interest rates more than the markets expected. The Fed has cut 0.50% instead of 0.25%. The larger than expected USD rate cut initially caused a USD decline, as the demand for USD to pay off loans is set to decrease.

Afterwards, the Dollar recovered as soon as the press conference of the Chairman of the Federal Reserve started. In general, the Chairman of the Federal Reserve has revealed that the US monetary policymakers are aiming at sustaining low unemployment in the USA, as inflation appears to be no longer an issue for the Fed.

The statements about a strong US economy boosted the USD, and it surged until midnight. However, by the start of Thursday's European trading hours, the Dollar index was back to levels where it traded before the volatile events.
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Thu, 19 Sep 2024 16:03:43 GMT

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