The Federal Reserve left the key interest rate unchanged at 5.5%. The decision was expected by the markets. However, what has moved the forex market is that most likely the interest rates will not rise more than the current level of 5.5%. It is very likely that, in the next year 2024, the interest rates will go down. The forecasts are that at the end of 2024 the main interest rate in the United States will be at the level of 4.75%.
By all accounts, it seems that, at least for the next few days (probably until the end of the year), the dollar will lose ground against other currencies, especially the Euro and the Swiss Franc.
FS Team expects to see trading levels around and at 1.10 for the Euro-Dollar.
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