Breaking: USD surges on hawkish Fed hike

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The Federal Reserve was broadly expected to raise interest rates in its final decision of the year, completing four increases in 2018. High uncertainty about 2019 loomed over the markets. The FOMC projections, known as the dot-plot, showed three rises next year. However, several signs of a slowdown and a few expresses of concerns from Fed officials. Ahead of the publication, the US Dollar was on the defensive, signaling growing expectations for a dovish hike.

The Fed releases new forecasts for inflation, growth, employment, and interest rates. In addition, the FOMC Statement and Chair Jerome Powell's press conference are of high interest.