A rate hike by the FED is all but certain. The writing seems to be on the wall as the current 0.75% rate will not be enough to help the US keep up with the curve. The increase is expected at 0.25%, bringing the short-term borrowing rate to 1%.
Forex - USD/JPY: Dollar slides off 3-week high, hovers around ¥110
The greenback's post-FOMC minutes rally was trimmed back on Thursday, pushing the reserve currency off a April-28 high against the Japanese yen.
Dollar on hold as Fed outcome looms, kiwi & sterling pressured
The dollar was in a holding pattern on Wednesday as markets waited for fresh guidance from the Federal Reserve, while a fall in dairy prices knocked the New Zealand currency broadly lower.
Forex - EUR/USD: Euro nears $1.09 ahead of FOMC verdict
The pair was pushing higher during the early Frankfurt session and could test the $1.09 level soon.
Forex - EUR/USD: Euro edges higher in quiet trading ahead of main event
The shared European currency added slight gains on Wednesday, although tight trading is expected as markets remain cautious ahead of the FOMC decision.