This week saw the US Federal Reserve keep its interest rates on hold. However, the central bank left the door very much open for a rate hike later this year. With US jobs data and inflation at its current state, the Federal Reserve did not feel that a rate hike was warranted yet, although continued stability in data could possibly push its hand to raise rates by December.
Yesterday saw trading from a fallout of the decision, with the US dollar bearing the brunt of a lack of interest rate action from the Federal Reserve. Data has been light, with only existing home sales coming out slightly worse than expected. Today is also lacking in significant data releases from the US, with emphasis turning to political events and the ongoing build up to the November elections.