Fed Minutes Push the Euro Down
The Federal Reserve (Fed) has released the FOMC Minutes from the previous meeting where they shared the possibility of raising interest rates higher than previously projected. Higher inflation and a strong labour market are adding pressure on the Fed and affecting decisions. Markets seem to be accepting new tightening possibilities and are reassigned themselves to the idea that the Fed might not get off the path of aggressive rate hikes. This news may contribute to the strengthening of the US Dollar and add pressure on Euro. The U.S. Dollar index is moving up towards 106 points with the EURUSD tumbling towards 1.0470. The Fed’s projections are affecting stocks and the debt market. Higher interest rates are pushing borrowing cost up, which could lead to lower investments and slower economic growth.
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