The FOMC is expected to announce its decision on the interest rate tomorrow, at 19:00 (GMT).
The bank is widely expected to hike rates by 25 basis points and raise the current level of +2.25% to +2.50%.
Fed’s Funds Futures support such a notion as they provide a 66.0% probability for such a scenario currently.
Under normal circumstances, a rate hike by the FOMC could provide support for the USD, however things may be different this time.
Growing uncertainty and soft economic data of the US economy, could be advising caution for the FOMC.
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