The U.S. Federal Reserve has kept the benchmark interest rate unchanged in September but did include in the Federal Open Market Committee (FOMC) statement that there will be one rate change in 2016. Fed officials cut the growth forecast of the U.S. economy to 1.8% this year and 2.0 for 2017.
The EUR/USD is range bound minutes after the release of the statement. Markets were anticipating the rate hold outcome and the currency pair is trading in a range.
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.