U.S. dollar strengthens after Fed announces larger-than-expected 0.50% interest rate cut.
On Thursday, the U.S. dollar strengthened after the Federal Reserve announced a larger-than-expected half-percentage-point interest rate cut. This move aims to maintain low unemployment as inflation decreases. While markets anticipated the cut, economists had predicted a smaller 0.25 percentage point reduction. Following the announcement, the dollar rose against several currencies, gaining 0.58% against the yen and reflecting market trends.
September 18, 2024
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