From the Desk of Ian Culley @IanCulley
Markets are bracing for tomorrow’s FOMC decision – including the dollar.
That’s right – we have more indecisive action on tap. Let’s call it the knee-jerk before the knee-jerk, with a little help from today’s May CPI print.
Interest rates, the US Dollar Index $DXY, and gold have yet to make a decisive directional move.
To be fair, most markets are trading within their respective year-to-date ranges (except the S&P 500 and Nasdaq 100, of course).
But if we turn to emerging market currencies, we don’t see any sign of hesitation…