The USD has remained steady against its major rivals and financial markets are moderately quiet as investors await the release of the US inflation data.
Tag: Federal Reserve
All eyes are on the Federal Reserve’s policy decision, and investors will closely watch Chair Jerome Powell’s speech for guidance on further tightening.
The Japanese yen rose temporarily yesterday against the US dollar, as rumours about a possible intervention in the FX market spread.
In this article, we will focus on the second most traded currency pair in the world, the USD/JPY pair.
The US dollar remained flat towards the end of Wednesday and ahead of US inflation data on Thursday.
Pound Sterling has been grappling with significant challenges ahead of the upcoming UK inflation data.
The US Consumer Price Index (CPI) figures will be released today on Wednesday at 12:30 GMT by the US Bureau of Labour Statistics (BLS).
BoE Governor Andrew Bailey, Fed Chair Jerome Powell and ECB President Christine Lagarde all said that there is a possibility of further rate hikes ahead.
The European Central Bank (ECB) is expected to raise key rates by 25 basis points which could provide support for the euro.
It is widely anticipated that on Wednesday, Federal Reserve officials will raise borrowing costs by a quarter of a percentage point, marking the 10th consecutive rate increase since March 2022. However, there is speculation among investors and economists that this may be the central bank’s final action before taking a pause. The US dollar has…