The EUR/USD price rose sharply after the hawkish interest rate decision by the Federal Reserve.
Enter your emailSet a sell-stop at 1.0100 and a take-profit at 1.000.Add a stop-loss at 1.0050.price rose sharply after the hawkish interest rate decision by the Federal Reserve. The pair rose to a high of 1.0210, which was the highest point since Tuesday. The price is about 1.40% below the highest level last week.The Federal Open Market Committee concluded its meeting on Wednesday and decided to hike interest rates by 75 basis points for the second straight meeting.
Still, recent data show that the economy is deteriorating at a fast pace. For example, data published this week showed that pending home sales dropped by 8.6% in June after rising by 0.4% in the previous month. The decline was worse than the median estimate of -1.5%. the Fed is battling a situation known as stagflation, where slow growth coincides with a rising inflation.
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