Oliver Mangan: Euro could well be heading for parity against the dollar

As widely anticipated, last week’s meeting of the US Federal Reserve saw the central bank increase the target range for the federal funds rate by 25 basis points to between 0.5% and 0.75%.

This is only the second time in the last 10 years that US rates have been increased, with the previous hike coming last December.

The Fed’s post-meeting statement referenced improving labour market conditions and inflation as underpinning the decision to increase interest rates.