Forex today: all eyes on the upcoming US Fed rate hike
In forex today, markets started to wind up ahead of Wednesday's US Fed rate call, coming in for a landing at 18:00 GMT, and markets are broadly expecting a 0.25% rate hike.
Broader markets remain quiet in the run-up to the US Fed action, though a kick in New Zealand's business confidence reading early in Wednesday's trading saw some support for the Antipodeans.
The EUR/USD is trading flatly near 1.1760 ahead of Monday's Fed action, and with the current path of Fed rate hikes already fairly priced into the EUR/USD, it's unlikely that today's upcoming rate hike will see much downside action for the major pair.
