NZD/USD extends its gains on the third successive day, trading higher around 0.5940 during the Asian session on Wednesday. However, the pair faced pre
at the current 5.25%-5.50% range in September, which could put pressure on the Greenback. According to the CME FedWatch Tool, the probability of another rate hike had been lowered in the November and December meetings.
Market participants will closely focus on the 'dot plots' to assess the expected interest rate trajectory. According to the recent Summary of Economic Projections , the Fed's median estimate indicates that rates could reach a peak of 5.6%. Yellen also said "I think the Chinese would most likely use the policy space they have to try to avoid a slowdown with major proportions. There may be spillovers from China’s economic difficulties to the US."
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