%Effective Federal Funds Rate
EFFR
▲ PositiveMonetaryrelevance
Fed raised rates for the first time in three years, lifting the effective federal funds rate.
The Euro weakened against the US Dollar, with the EUR/USD pair declining to around 1.1460 during Asian trading hours on Thursday, after the US Federal Reserve raised interest rates for the first time in three years. The Fed's rate hike drove the single currency lower against the dollar. US Initial Jobless Claims data is due for release later on Thursday.
Fed raised rates for the first time in three years, lifting the effective federal funds rate.
Fed's first rate hike in three years pushes Treasury yields higher.