FOMC leave interest rates unchanged at 2% - USD sold against majors.
Disclaimer: THIS MATERIAL IS NOT INVESTMENT RESEARCH AS DEFINED BY THE FINANCIAL SERVICES AUTHORITY
As expected the Federal Reserve left interest rate unchanged at 2%. During the press statement officials did not really give the market a strong signal that it would raise interest rates later in the year. There were a few indications of positive signs in the economy however persistent references were made to rising energy prices limiting growth. The FOMC said unemployment had weakened and financial markets remained under considerable stress even as growth risks diminished somewhat.
The US Dollar lost over a cent against the pound and a cent against the euro.
Thursday 26 June 2008, 02:56pm
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