Euro Stays Above $1.20 Level

The euro exchange rate against the US dollar fell today after four consecutive winning sessions. The EUR/USD pair has declined by 0.23% and is trading at 1.2031. The German Unemployment Change fell by 29.000 in December. This was the second largest decline in 2017.

The Federal Reserve System will be at the center of attention of investors today, with the release of the protocol of the December meeting on policy issues. At this meeting, the Fed raised interest rates by 25 basis points to 1.25-1.50%. The US economy continues to grow, but still, inflation remains well below the Fed's target of 2%. If this rate of economic growth in the US continues, the Fed can raise rates to four times in 2018. Currently, the CME Group estimates the rate hike in January at 98.5%.