Euro Weakens to Near 1.1450 as Fed Raises Rates

The Euro weakened to nearly 1.1450 against the US Dollar on Thursday following the Federal Reserve's decision to raise interest rates for the first time in three years.

The Fed raised its benchmark rate by 25 basis points to a range of 3.75-4.00%, as widely expected, and signaled further increases in borrowing costs in the coming months.

European Central Bank President Christine Lagarde emphasized that the ECB's approach is data-dependent and will not pre-commit to further steps on rates, despite Eurozone inflation concerns.