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After the Federal Reserve announced its interest rate decision, GBP/USD rose sharply and consolidated in the 1.2700/1.2750 range.
The Federal Reserve kept interest rates steady, emphasizing the continued strength of the U.S. economy and labor market.
Despite recent high levels of inflation, the Fed’s forecast for 2024 remains stable; its outlook for the federal funds rate in 2025 has been slightly revised.
GBP/USD climbed sharply after the Federal Reserve (FED) decided to keep interest rates on hold but maintained expectations for a rate cut in 2024. Subsequently, Fed Chairman Powell held a press conference, and GBP/USD fell, fluctuating around the 1.2700/1.2750 area.
