The USD had a somewhat muted trading session since traders are now closely monitoring Federal Reserve as the FOMC’s two-day meeting has already begun. The market is currently expecting the USD to have a somewhat inactive reaction to the Fed’s speculated 25-point interest rate hike, but could exhibited an increased volatility with regards to its price once Fed Chair Janet Yellen speaks on the press conference following the FOMC meeting. The market liquidity expected for this month has already been augmented by the results of the Fed meeting, especially since traders are now more concerned with the central bank’s future plans than with the Fed rate hike this month.
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