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Fed cuts funds rate by 0.25%-EUR/USD slides on prospect of slower Fed easing next year
As was entirely expected, the US Federal Reserve have lowered their Fed Funds rate by 0.25% this evening. However, at the same time they have changed their Dot Plot outlook for interest rates in 2025, 2026 and 2027. So, this does suggest a slower pace of easing going forward. It is that news which has. The USD/JPY was trading around 153.80 leading into this announcement. It has charged above 154 on this news and the EUR/USD has slumped to fresh session lows on this news, below 1.0450. This shift in the outlook has surprised the markets and sent the dollar on a tear higher
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