Currency Analyst since 2010

Traders await the Fed's statement

US dollar is trading near a 2-month low against a basket of major currencies on Wednesday as traders await results of the Federal Reserve’s meeting and prepare to a more dovish statement of the central bank. The statement will be released at 18:00 GMT. Also watch the release of the US GDP at 12:30 GMT.

EUR/USD is trading in the 1.0980 area. GBP/USD rose to 1.5379. AUD/USD met resistance at 0.8030 as Goldman Sachs warned that S&P could place Australia’s sovereign rating on a “negative outlook” over the coming months, while China’s official downplayed the possibility of QE. NZD/USD met resistance at 0.7740 (April highs) as ANZ business confidence came a bit lower than expected. 



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