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USD: dollar claws back some recent losses against the pound

By Ricky Bean September 19th, 2017

The US dollar made some gains against sterling yesterday as traders braced themselves for the Federal Reserve meeting on Wednesday. While it is unlikely that an interest rate rise is forthcoming, it will be more interesting to see whether there is a hint at a prospective rise in December. If not, we could see some volatility in the greenback. We could also get some news on their programme of quantitative easing which could be supportive of the US dollar.

Today is quiet for US economic data, but tomorrow we have the Fed’s aforementioned meeting. In addition, we will have the existing home sales data release, the FOMC’s economic predictions, followed by the Fed press conference.