Markets price a 30% chance of a surprise Fed rate hike as the Dollar Index holds steady near 100.70-101.50.
EUR/USD is expected to trade within a 1.1350-1.1420 range as the Federal Reserve’s policy decision looms. The Dollar Index remains stable, hovering between 100.70 and 101.50 ahead of tonight’s FOMC announcement.
Traders anticipate the Fed will keep rates unchanged, though a 30% probability of a surprise hike persists. The near-term outlook for both the dollar and euro remains range-bound, with no immediate breakout expected.
No significant market reaction has been observed yet, as investors await the Fed’s guidance for further direction.