The dollar stood steady in Asia on Wednesday just hours before the Federal Reserve was expected to take a major step toward lifting interest rates for the first time in almost nine years.
A Fed statement is due at 1800 GMT, followed half an hour later by a press conference with Chair Janet Yellen. The central bank will also release members’ forecasts for inflation and interest rates, and some analysts suspect the trajectory of future increases could be lowered.
A string of strong payroll reports has left the strong impression the Fed will drop its reference to being patient on policy but still make a rate increase conditional on economic developments, in particular inflation.
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.