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29 Jul 2015
EUR/USD hits fresh lows under 1.1000 after Fed statement
FXStreet (Córdoba) - EUR/USD hit a fresh daily low below 1.1000 almost an hour after the release of the FOMC statement that showed little change from the previous meeting. The pair initially rose to 1.1075 but then turned to the downside and recently resumed the decline as the US dollar gained momentum against European currencies.
The Federal Reserve, as expected, left rates unchanged and gave no clear clues about when it will start the process of normalization of the monetary policy. “A September rate hike remains our call, but it all depends on the numbers – two 200k plus payrolls readings and signs of average hourly earnings edging towards 2.5%YoY might be enough in the absence of negative shocks elsewhere”, said James Knightley, Senior Economist at ING.
EUR/USD lower but so far limited moves
The pair currently trades at 1.1005/10 after being able so far to hold above 1.1000. So far the decision of the US central bank had a limited impact on the forex market. Among the most affected currencies was the Swiss franc and the Canadian dollar that dropped moderately across the board.
The Federal Reserve, as expected, left rates unchanged and gave no clear clues about when it will start the process of normalization of the monetary policy. “A September rate hike remains our call, but it all depends on the numbers – two 200k plus payrolls readings and signs of average hourly earnings edging towards 2.5%YoY might be enough in the absence of negative shocks elsewhere”, said James Knightley, Senior Economist at ING.
EUR/USD lower but so far limited moves
The pair currently trades at 1.1005/10 after being able so far to hold above 1.1000. So far the decision of the US central bank had a limited impact on the forex market. Among the most affected currencies was the Swiss franc and the Canadian dollar that dropped moderately across the board.