Today, all eyes are likely to be on the FOMC decision. The Committee is expected to deliver its 4th hike for this year and thus, if this is the case, focus is likely to turn to the new “dot plot”. Investors will be eager to see whether the plot will be revised down, and if so, by how much. Tonight, during the Asian morning Thursday, the BoJ will decide on policy. However, we don’t expect any major changes from this Bank.
Fed Set to Deliver its 4th Hike for 2018, Focus on ‘Dot Plot’
The dollar continued trading on the back foot against most of the other G10 currencies on Tuesday. Once again, it gained only versus NOK and CAD, which continued tracking the slump in oil prices. The dollar stayed under pressure against EUR, GBP and JPY, SEK and NZD, while it traded virtually unchanged versus AUD and CHF.
Today, USD-traders, alongside the rest of the financial community, are likely to be sitting on the edge of their seats in anticipation of the FOMC decision later in the day. This is one of the “bigger” meetings, where, besides the...
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