Will FOMC be Good or Bad for the US Dollar?

Wednesday’s Federal Reserve monetary policy announcement is the most important event risk on this week’s calendar but many investors are wondering how much impact it will have on the US dollar. On Monday, the greenback traded lower against all of the major currencies on the expectation for dovishness but today, the price action is mixed. The dollar extended its slide against the Japanese Yen but strengthened versus the euro. Other currencies like sterling, the Canadian, Australian and New Zealand dollars ended the day up versus the greenback but also descended from earlier highs which means that during the New … (full story)

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