Will the pound & euro follow the dollar off a cliff today?
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Will the pound & euro follow the dollar off a cliff today?
Europe Follows the Fed
Hello Phan,
The European Central Bank (ECB) and the Bank of England (BoE) make their final interest rate decisions of the year today.
Both are expected to follow the Fed, which kept interest rates unchanged yesterday. But this doesn’t mean the GBP and EUR will remain unchanged as well.
We know this because even though the Fed held rates yesterday, the dollar still dropped to a 4-month low. That’s because traders realised that the Fed’s aggressive hiking campaign ended.
And like the US, inflation rates are dropping rapidly in the UK and the EU.
Does this mean the pound and euro will suffer a similar fate today?
** Disclaimer – While due research has been undertaken to compile the above content, it remains an informational and educational piece only. None of the content provided constitutes any form of investment advice.
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