USD Index extends the correction and challenges 101.00 ahead of FOMC – by pabspiovano DollarIndex Currencies Majors
The Fed is anticipated to hike rates by 25 bps later on Wednesday., remains offered and trades close to the 101.00 region on Wednesday.The index appears offered and initially adds to Tuesday’s pullback from tops in the 101.60/65 band amidst alternatingIn the meantime, market participants remain cautious ahead of the imminent FOMC gathering, where a 25 bps interest rate hike is widely anticipated.
So far, the Fed is largely predicted to raise the Fed Funds Target Range by another 25 bps later in the session, in line with the Committee’s views observed at the June’s meeting as well as comments from the Fed’s rate setters in past weeks. If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
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