What are the double effect of interest rates on the Forex market?

[sashavich04]

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[darexgeorgieviya04]

Interest rates, set by central banks worldwide, are heavily used in forex trading. Forex traders and investors are closely monitoring changes in interest rates, which in turn determine the underlying value of traded currencies. Any forex trader needs to understand the impact of interest rates on different currencies. You can easily see the interest rate table to see the rates applied in each country, but the biggest challenge remains how to interpret them?