Dynamics
U.S. Dollar remains the tendency to increase. This pair of EUR /USD is traded on the approach to the 1.4100 mark, a pair GBP /USD remains in the range above 1.6400, a couple of USD /CHF traded around 1.0800 marks.
Japanese yen continued to strengthen against other currencies. This pair USD /JPY settled below 96.00, a pair of EUR /JPY fell to 135.00.
Commodity currencies decline against the U.S. dollar. Thus, the pair AUD /USD fell below 0.8300, a pair NZD /USD below 0.6700 entrenched, and a pair of USD /CAD has been able to hold above 1.1000.
Causes
The tendency of investors to risk has subsided, as evidenced by a slight decline in stock indexes. Part of the reason this became weak data from China. On the other hand, investors are focused on the Fed statement, showing that care and avoiding risky assets. As a result, the U.S. dollar and Japanese yen were visible support and were able to continue to strengthen against a wide range of other major currencies.
What to expect?
Prospects dollar will largely determine the decision of the Fed today. As expected, it will not raise interest rates from the current level of almost zero, but investors are waiting for good news about the U.S. economy, as well as statements regarding the quantification of mitigation. Good news can trigger active selling less risky currencies like the dollar and the yen. But there are fears that after the Bank of England, the Fed might announce the expected weak economic growth, further reduce the propensity to take risks, and will help strengthen the dollar and yen purchases.
In conditions of high uncertainty in anticipation of the announcement of the decision the Fed, market participants took a wait-and-see attitude, and are likely to ignore these macroeconomic statistics, expected today. The most important are the data on the trade balance the United States and Canada, the Eurozone industrial production and the labor market in the UK. In addition, the Bank of England will present a progress report on inflation, which, however, can have a significant impact on the British currency.
What is fear?
Unexpected news could trigger a sharp increase in volatility, with limited trading volume.
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