Federal Reserve hold interest rates steady at 2%
Disclaimer: THIS MATERIAL IS NOT INVESTMENT RESEARCH AS DEFINED BY THE FINANCIAL SERVICES AUTHORITY
The US Dollar consolidated on the gains made against the pound and Euro. The FOMC voted to keep lending rate steady at 2% for a second consecutive meeting. The Federal Reserve noted in their comments the upside risks to inflation were a significant concern. Many traders were disappointed as they were expecting a hawkish statement. Recently the dollar has been helped by a weak pound and a Euro that seems to be coming under more pressure.
Wednesday 06 August 2008, 03:51pm
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