The US Dollar (USD) improves a little as investors prepare for the FOMC meeting. ING economists analyze the outlook for the dollar.
It seems that the Dollar continues to lag behind the recent rise in interest rates in the US
The consensus does not expect significant changes in the statement or the Fed's economic forecasts. If there is a risk, it lies in a less moderate/slightly positive result for the Dollar.
The dollar still appears to be lagging behind the recent spike in US rates and even if the Fed were to maintain the three cuts planned for this year, we doubt the dollar would sell off for long. We need the data to go down for a bearish trend to emerge in the Dollar.
The DXY index will remain in a range of 103.50-104.00 ahead of the FOMC meeting.
Source: Fx Street
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