“It’s probably a pause because we have the Fed and then the three European central banks tomorrow,” said Vassili Serebriakov, a currency strategist at UBS in New York. “I think the markets are going to wait patiently for the results.”
After raising rates by 75 basis points (bp) in four successive meetings, the Fed is expected to approve a 50bp hike when it concludes its two-day meeting later in the day.
Next, investors will focus on Thursday’s quotes for the Bank of England and the European Central Bank, in which a rate increase of 50 bp is also expected. The Swiss National Bank also meets on Thursday.
The euro was up 0.14% at $1.0644not far from the six-month intraday high of $1.0673 hit in the previous session after the US inflation figures.
The pound, which also hit a six-month high after the US data, was up 0.16% at $1.23865, after a brief dip after UK inflation data also showed a larger than expected drop.
The US currency was down 0.55% against its Japanese counterpart, at 134.83 yen, and 0.13% against the offshore yuan, at 6.9554 units. an eight-month low of 0.9230 units.
Source: Ambito
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