On Tuesday the euro remained in a narrow range at about 1.2270 against the dollar. In the evening when Fed announced interest rate increase by 0.25% the European currency shot up and broke the 1.23 limit. However, it returned to its previous level very soon and the greenback closed in American trading session at 1.2223. On Wednesday no important data are released, the EUR/USD rate might react to yesterday's hike that could help the dollar to strengthen to 1.22 levels. We expect movement in a range between 1.2175 and 1.2275 today.
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