Today, investors will be sitting on the edge of their seats in anticipation of the FOMC monetary policy decision. The Committee is widely anticipated to raise interest rates, so all eyes are likely to turn to the statement, the updated projections, and the press conference by Fed Chair Jerome Powell. Yesterday, the pound gained after UK PM Theresa May won a parliament vote. Now, GBP-traders are likely to turn attention on the UK CPIs for May.
Fed is Widely Anticipated to Hike Rates; Focus Falls on the “Dots”
The US dollar traded higher or unchanged against all but one of the other G10 currencies. It gained the most against AUD, NZD, and JPY in that order, while it ended the day virtually unchanged versus GBP, CHF and NOK. The sole winner was SEK.
Today, investors will be sitting on the edge of their seats in anticipation of the FOMC monetary policy decision. This is one of the “bigger” meetings where besides the rate decision, we get updated...
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