Yesterday, the US dollar inched down against a basket of currencies ahead of the start of the Federal Reserve’s meeting, as the euro inched higher, staying just above $1.12.
With the Fed widely expected to raise interest rates when it concludes its meeting on Wednesday, the markets’ focus will be on any fresh hints on the pace of hikes in the months to come, and its assessment of the economy and outlook on inflation.
Investors will also be watching for any fresh details on the central bank’s plans for trimming its balance sheet.
All eyes will therefore be on the FOMC meeting and CPI data out of the US today.
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