EURUSD – Up
EURUSD trading plan:
Lorie Logan started her new job as president of the Federal Reserve Bank of Dallas just over a week ago, but on Wednesday lost no time making clear she is ready to jump in alongside her fellow U.S. central bankers to fight inflation. The Fed is raising interest rates at a pace not seen since the 1980s to fight inflation that is running at a 40-year high. Logan was reflecting on the several days she spent last week attending a global central bankers‘ conference in Jackson Hole, Wyoming, where Fed Chair Jerome Powell signaled he would raise U.S. borrowing costs as high as needed to cool price pressures, even as he acknowledged that doing so would bring „some pain“ to households and businesses as growth slowed and the labor market softened.
Investment idea: sell 1.0078 and take profit 0.9990.
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