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Fed does not dissapoint and raises rate and markets shrug it off

EURUSD News by Newsroom on 14:07 June 14, 2017 EST
The Fed did raise its fund rate by a quarter to 1.25% on Wednesday. The decision was highly anticipated by the market and therefore the reaction to the announcement has been fairly muted.

This is the second time in three months the central bank raises rates by a quarter while it sees one more hike this year.

More interestingly, the statement sets out plan to shrink asset holdings beginning this year.

Gold spiked higher but quickly reverted back to its price before the event and the dollar remains weak across most currencies.