Market update 16-03-17

The US Federal Reserve’s interest rates decision is out. As widely expected, there is a hike from 0.75% to 1.00%, the second hike in three months. The U.S. Treasury Yields fell touching a one-week low of 2.518 after the interest decision hike.
The US Stocks hit session highs Wednesday afternoon with the Dow Jones, S&P 500 and Nasdaq experiencing gains.
However contrary to FX market movements, after the interest rate hike. The U.S. Dollar weakened against our basket of currencies of which the Fiji Dollar is pegged against.
US Dollar weakened by 52 points against our Fijian Dollar today standing at 0.4737. This makes our Australian Dollar and New Zealand Dollar a much stronger currency against our Fijian Dollar.
That’s it from your economic calender

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