XE Market Analysis: Dollar Surges After Fed Hike

OVERVIEW The Federal Reserve raised rates as expected yesterday to 0.75% which Janet Yellen called a “very modest adjustment” driven by strong jobs gains and continued pick-up in inflation. The market was surprised by the Fed raising their forecast to three rate hikes in 2017. The increase is partly due to the incoming Trump administration’s promises of tax cuts, spending, and deregulation.  The Bank of England left monetary policy unchanged as expected and said that Sterling’s recent strength suggests inflation may overshoot their 2% target by less than is forecast last month. The Swiss National Bank also left rates on…

Source: XE news feed
XE Market Analysis: Dollar Surges After Fed Hike