GBP/USD

Overnight, FX pairs were very quiet ahead of today's key Fed meeting. Early in the U.S. session, the futures market continued to price in only low (16%) likelihood of a .25% rate hike. Whether today will bring one more hike or a pause, it remains the case that the Dollar will likely be losing rate support. Contributing to poor Dollar sentiment is the overall feeling that growth, especially in the jobs market, is slowing. If true, it may not be long before we are discussing rate decreases by the Fed. Read More....