FOMC Hawkish Stance Boosts Dollar; EUR/USD Range 1.1450-1.1600
The FOMC kept rates unchanged but revised inflation expectations higher and cut growth forecasts. Hawkish comments lifted the dollar index above 100, with EUR/USD seen trading within a 1.1450-1.1600 range.
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The Federal Reserve held interest rates steady at its latest meeting, but updated economic projections showed higher inflation expectations and lower growth forecasts. The hawkish tone pushed the US Dollar Index above the 100 level.
According to analysts, the dollar index now faces a series of resistances between 100 and 101. For EUR/USD, the near-term trading band is expected to be 1.1450 to 1.1600, reflecting the dollar's renewed strength.
Source: FXStreet Forex News