Fed Hawkishness Weakens Euro as Nasdaq Tests Resistance
The U.S. Dollar has firmed against major currencies following a hawkish Federal Reserve decision, with EUR/USD now heading for a weekly decline near 1.1462. This currency weakness coincides with the Nasdaq 100 testing resistance at the 30,000 level, as markets weigh persistent inflation risks from elevated oil prices against the prospect of further rate hikes.
Per GN auto markets/forex, EUR/USD is trading near 1.1462 and is on track for a weekly loss as the hawkish Fed outlook continues to prop up the Greenback. The pair remains under pressure from rebounding oil prices and rising U.S. Treasury yields, while ECB President Lagarde maintains that the bank is well-positioned to address energy-driven inflation risks.
Source: fxstreet.comThe U.S. Dollar strengthened against major currencies following a hawkish Federal Reserve decision, while the Nasdaq 100 faced resistance at the 30,000 level.
Source: DailyForex
