The EUR/USD pair maintains a neutral position, awaiting the Federal Reserve’s verdict.
The major currency pair remains still this Wednesday, much like the previous day. The current exchange rate for EUR/USD stands at 1.0684.
Today marks a significant day of the month as it concludes the two-day meeting of the US Federal Reserve. Later in the day, the Fed will unveil its decision regarding the interest rate, and it’s highly probable that the rate will persist at 5.5% per annum. Nevertheless, the market is focused on subsequent remarks from the Fed, seeking hints about the regulator’s future strategies.
Leading up to Federal Reserve Chair Jerome Powell’s address, market activity might remain muted, but heightened volatility is anticipated immediately after.
It’s plausible that the Fed might highlight signs of accelerating inflation and express confidence in the labour market as factors to contemplate rate hikes in November. If such a scenario unfolds, the US dollar could gain strength.
All attention is currently directed towards the Fed.
The post Market Pauses in Anticipation of Fed’s Decision: Summary for September 20, 2023 appeared first at R Blog – RoboForex.
