The Euro strengthened against the US Dollar, as most of the releases matched expectations on Wednesday. The EUR/USD currency pair added 28 pips, to continue appreciation and reveal one more 22 pips jump, following the Fed interest rate decision.
The Labour Department stated that the US consumer prices slowed growth to 1.7% year-on-year in November, held down by a strong decrease in apparel prices and weak costs of healthcare, which is likely to determine the pace at which the Fed hikes rates next year. Later, the Federal Reserve announced its decision to raise rates to 1.50% from 1.25%, as widely anticipated, but kept future projections unchanged, despite a possible short-term jump amid Trump’s proposed cuts of tax.
