GBP/USD rallied towards its daily high at 1.2304 on the headlines.
The US Federal Reserve hikes rates by 25 bps to the 4.75% - 5.00% range.
Traders eyed the Federal Reserve Chair Jerome Powell’s press conference.
The GBP/USD is rallying sharply after the US Federal Reserve raised rates by 25 bps. Federal Reserve officials updated its dot-plot, with 10 out of 18 policymakers expecting another 25 bps rate hike by the end of the year. At the time of typing, the GBP/USD is trading volatile within the 1.2240-1.2300 range as traders brace for Fed’s Powell press conference.
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