Dollar Halts Upward Ahead of FOMC Meeting | Forex Market Analysis by ATFX

Dollar Halts Upward Ahead of FOMC Meeting | Forex Market Analysis by ATFX

July's FOMC meeting will be held on Thursday. It is expected that the Fed will hike the rate by 75 basis points, not 100 basis points. Traders try to figure out if policymakers might pause inflation-fighting efforts as the economy is slowing down.

Technically, the dollar index is almost trading around 106 after the peak of 109.30. After July's FOMC meeting, the dollar can stand above the 105.83 support. If it could regain to 107, the next target will be 107.97.

00:00 USD Market Overview
00:25 USD Market Forecast

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