The Australian Dollar (AUD) is climbing sharply against the US Dollar (USD) minutes ahead of the US Federal Reserve’s (Fed) monetary policy decision,
unchanged but delivering a hawkish statement. Fed policymakers will update their economic projections, with speculations of growth to be upward revised and revised inflation down, with the only question being: where does the Fed see the Federal Funds Rate in 2023, 2024, and 2025?
Money market futures show the Fed’s odds for a November rate hike are 27% for a quarter of a percent increase, ahead of the Federal Open Market Committee decision. For December, the odds stand at 34.1%.
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