USD lost positions after Fed meeting

Noam Stiekema

USD lost positions after Fed meeting and the report about it. The document became clear that central bankers reluctant to increase interest rates, but the intended closure of the era of printing money compared to expectations. The eyes of market participants will be directed to today’s meeting of the Bank of England, which will decide […]

Thousand USD

Thousand USDUSD lost positions after Fed meeting and the report about it. The document became clear that central bankers reluctant to increase interest rates, but the intended closure of the era of printing money compared to expectations. The eyes of market participants will be directed to today’s meeting of the Bank of England, which will decide on interest rates. The meeting minutes of the Fed confirmed initial expectations that monthly bond purchases will be terminated at the end of October. This will be an end of an unconventional method of dealing with crisis situations, namely printing massive amounts of money to stimulate consumption and speed in the country. Launched at the height of the financial crisis repurchase program of bonds so far been pumped into the economy over 2 trillion USD.

The investors’ expectations that the transcript of the meeting, the Fed will provide more light about the intentions of the institution to raise interest rates, proved futile. The meeting was not discussed moment to begin the rise, and this has created speculation that central bankers reluctant to taking this course. The financial markets are anxiously awaiting the rise in interest rates on the world’s leading currency and the uncertainty about the exact time when this will happen, scored major pairs in a relatively narrow trading range in recent months.

One of the biggest losers in currencies today proved to be the Australian dollar, which wiped out about 0.1% of its value since the publication of data on unemployment in the country. Increased level of unemployment in the country raising fears that economic growth is slowing. This in turn increased speculation that the increase in interest rates, which is underway, will be suspended for a period of time. One of the main events today will be connected with the meeting of the central bank of the United Kingdom. The decision on the interest level in the country will be published at 14:00 CET. Estimates are that the institution will maintain its current policy and the base rate will remain unchanged at 0.5%.

The EUR was traded at 1.3630 against the USD, which is close to the lowest values ​​for today. The pair GBP/USD is trading around 1.7130, while USD/JPY rate was 101.50.

Read this next

Digital Assets

Himalaya Exchange customers seek release of frozen funds from DOJ

FormerFeds, a corporate defense and litigation service provider, has filed a lawsuit against the U.S. Department of Justice (DOJ) on behalf of over three and a half thousand Himalaya Exchange customers.

Digital Assets

Nubank, Circle, and Talos join forces for crypto adoption in Brazil

Nubank, the Brazilian neobank backed by Warren Buffett’s Berkshire Hathaway and Softbank Group Corp, announced new partnerships with cryptocurrency firms Circle and Talos.

Metaverse Gaming NFT

Flare onboards Ankr, Figment, Restake, and NorthStake as validators

Flare, an EVM smart contract platform known for its focus on blockchain data utility, has announced a major step in its development. The platform has onboarded leading infrastructure providers, including Ankr, Figment, Restake, and NorthStake.

Digital Assets

Sui Joins DeFi Leaders, Topping $100M in Bridged USDC

Sui, the groundbreaking Layer 1 blockchain created by the technology experts who led Meta’s Diem blockchain initiative and created the Move smart contract language, continues its explosive ascent in decentralized finance (DeFi). This week, it surpassed $100 million in bridged USDC. 

Digital Assets

Poloniex hit by UK regulator, listed as ‘unauthorised’ exchange

The UK’s Financial Conduct Authority (FCA) has added the cryptocurrency exchange Poloniex to its warning list of non-authorized companies. Poloniex, which is based in Seychelles, has experienced four hacks in the last two months and is affiliated with entrepreneur Justin Sun.

Industry News

Exclusive Markets is Proudly ISO/IEC 27001:2013 Certified by MSECB for Unparalleled Commitment to Information Security

Exclusive Markets, a leading name in the FINTECH sector, proudly announces the attainment of ISO/IEC 27001:2013 Certification by the MSECB. This esteemed certification highlights Exclusive Markets’ persistent commitment to fortifying information security within its cutting-edge trading technology. 

Digital Assets

SEC is discussing ‘technical details’ of Bitcoin EFTs ahead of approval

Discussions between the U.S. Securities and Exchange Commission (SEC) and asset managers seeking to list Bitcoin exchange-traded funds (ETFs) have reportedly advanced to key technical details.

Digital Assets

Versatus Labs Reaches $50 Million Valuation Following $2.3 Million Seed Funding Round

Versatus Labs, a peer-to-peer web services protocol aiming to help Web2 developers transition to Web3, has completed a $2.3 million funding round at a $50 million valuation led by key investors in the Web3 space including NGC Ventures and Republic Crypto. The latest funding round aims to help the company develop the ‘world’s first stateless roll-up’, Versatus LASR. This follows Versatus Labs’ recent pivot from Layer 1 solutions to Ethereum scaling solutions. 

Digital Assets

Binance ex-chief’s sentencing looms as court accepts his guilty plea

A U.S. district judge has accepted a guilty plea from former Binance CEO Changpeng Zhao (CZ) on charges related to anti-money laundering violations. The plea was accepted by Judge Richard Jones in the U.S. District Court for the Western District of Washington in Seattle.

<