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18 Mar 2015
EUR/USD hits fresh daily highs ahead of FOMC statement
FXStreet (Córdoba) - EUR/USD has managed to extend intraday gains to a fresh high during the American session, as the dollar faces mild selling pressure ahead of the FOMC decision.
The Federal Reserve concludes its two-day policy meeting at 18:00 GMT and markets’ focus remains on whether the central bank drop the word “patience” from its language, signal that would be understood as moving closer to a rate hike sometime mid-year.
EUR/USD has inched higher, reaching a daily peak of 1.0665 amid positioning ahead of the Fed’s statement. At time of writing, the pair is trading at 1.0650, up 0.51% on the day.
EUR/USD has recovered from a 12-year low of 1.0461 scored last Friday, but hints at a possible rate rise from the Fed could quickly send the pair to fresh cycle lows.
The Federal Reserve concludes its two-day policy meeting at 18:00 GMT and markets’ focus remains on whether the central bank drop the word “patience” from its language, signal that would be understood as moving closer to a rate hike sometime mid-year.
EUR/USD has inched higher, reaching a daily peak of 1.0665 amid positioning ahead of the Fed’s statement. At time of writing, the pair is trading at 1.0650, up 0.51% on the day.
EUR/USD has recovered from a 12-year low of 1.0461 scored last Friday, but hints at a possible rate rise from the Fed could quickly send the pair to fresh cycle lows.