The euro rose 0.28% against the dollar as the Federal Reserve kept rates unchanged despite three dissenters favoring a hike.
The euro surged to 1.1420 against the dollar, gaining 0.28%, after the Federal Reserve held interest rates steady in a 9-3 vote. Three regional Fed presidents dissented, pushing for a 25-basis-point increase.
The Fed’s statement noted solid economic growth, steady job gains, and stable unemployment, despite geopolitical uncertainty from the Middle East conflict. Productivity and capital investment were highlighted as strong, reinforcing the Fed’s focus on price stability.
Investors now await Fed Chair Kevin Warsh’s upcoming press conference for further policy signals. The EUR/USD pair remains volatile above 1.1400 as markets digest the decision.