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The U.S. Federal Reserve raised interest rates for the first time in more than three years and indicated additional tightening ahead, driving a sharp rise in the dollar, declines in the Dow and S&P 500, and a significant flattening of the Treasury yield curve.
ING’s Francesco Pesole said the euro’s scope to fall versus the dollar could be limited if the Fed raises rates and signals further tightening.
The euro could fall against the dollar if the Federal Reserve raises interest rates on Wednesday and signals the prospect of further tightening, ING's Francesco Pesole says in a note. Global equities and short-term rates are currently the biggest drivers for the euro versus the dollar, meaning a Fe…