020 7898 0500Yesterday was a pretty quiet day for the dollar, with little movement and no major data releases leading to a fairly flat day on the currency.
Wednesday’s Federal Open Market Committee meeting is the key focus. An interest rate hike is already fully priced in and a decision against this now would likely lead to a weakening of the currency.
At the moment, British politics seems to be the main market focus, so we’re not expecting to see a huge amount of movement prior to Wednesday’s announcement. We’ll be keeping a keen eye on any future indicators of further rate hikes.
