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FOMC Takes Centre Stage

Manufacturing production in the US expanded less than forecast as the US index steadied itself above 93.

Meanwhile, the US dollar will hinge on guidance from Fed chair Jerome Powell at today’s FOMC meeting.

We can expect the Federal Reserve to confirm that its interest-rate policy will remain unchanged and close to zero through the end of 2023.

Long Road to Recovery for the Eurozone

The euro closed moderately lower on Tuesday by 0.14% ending a 4-day winning streak.

The EURUSD pair managed to reach the 1.19 handle as German ZEW data was upbeat.

However, ECB board member Fabio Panetta closed the pair towards 1.18 stating that challenges to growth and inflation remain.

Choppy Waters Ahead for Sterling

The pound kept its head above water ending yesterday’s session 0.36% higher.

This is despite unemployment figures hitting 4.1% as almost 1 million UK residents have been out of work since March.

Foreign Secretary Dominic Raab is in Washington where he is expected to t...

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