Rising dollar can be Ireland’s biggest friend

The Federal Reserve interest rate rise, only its second rate increase in the last 10 years, came as no surprise last week, following months of leaked intentions.

Unexpected, however, was the clear indication that we can expect three more similar rate increases through 2017, effectively doubling US central bank interest rates over the period.

For Americans, the rate increase is an attempt to cool the economy and prevent excessive inflation next year, a smart move from Janet Yellen, the head of the Federal Reserve, particularly in view of the Trump-led expansionary policy plans.