GBP/USD hits lowest level in over 20 years following Fed, Biden responds to Putin’s Nuclear threats [Video]

GBPUSD was trading at its lowest point in over 20 years on Wednesday, as markets reacted to the latest FOMC rate decision.

Despite some calling for a 1% hike,  the Fed opted to increase rates by 75 basis points, as it continues its battle with rising consumer prices in the United States.

Ahead of the decision, market speculation had led to the greenback gaining versus several G-7 currencies, including USDJPY.

EURUSD also fell to a fresh 20-year low, with GBPUSD trading at its weakest point in over two decades.

As of writing this, XAUUAS was trading at a 2-year low.

U.S. President Biden responds to Putin’s Nuclear threats

U.S. President Joe Biden today reposended to Russian leader Vladimir Putin, as Russia prepared to mobilize 300,000 troops.

In a televised address, Putin stated that, “We are talking about partial mobilization, that is, only citizens who are currently in the reserve will be subject to conscription, and above all, those who served in the armed forces have a certain military specialty and relevant experience”.

The Russian leader was also quoted as saying, “ (The west) wants to destroy our country”.

Responding to this, Biden was quoted as saying, “No matter what else is happening in the world, the United States is ready to pursue critical arms control measures. A nuclear war cannot be won and must never be fought”.