EUR/USD Under Pressure as Fed's Williams Warns of More Interest Rate Hikes

The EUR/USD exchange rate came under pressure on Thursday as Federal Reserve Bank of New York President John Williams delivered hawkish commentary, warning of more interest rate hikes. The Euro retreated from its intraday high of around 1.1400 to near 1.1380 against the US Dollar.

Williams' remarks were particularly notable for their emphasis on 'remarkable resilience' in the US economy and receding downside risks to maximum employment, as well as his assertion that another rate hike by year-end is 'reasonable.'

The hawkish tone from Williams has boosted US Treasury Yields, which posted a fresh 19-year high near 5.14%.