
- EUR/USD sees a sharp decline after the Federal Reserve cuts rates by 25 basis points but indicates a slower pace for future reductions.
- Cleveland Fed President Beth Hammack cast a dissenting vote, preferring to keep rates steady.
- The Fed’s Summary of Economic Projections (SEP) suggests only two rate cuts in 2025 and 2026.
The EUR/USD fell sharply, from around 1.0500, after the Federal Reserve lowered borrowing costs but adopted a cautious stance on the interest rates path in 2025. At the time of writing, the pair trades volatile at around the 1.0400 – 1.0500 range, below its opening
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