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Forex market awaits Fed's speakers and US Consumer Price data

Discussion in 'Forex Daily News & Outlook' started by prav, May 14, 2007.

  1. prav

    prav Moderator
    Staff Member

    Apr 28, 2007
    Likes Received:
    Analysts said the Dollar found some support as investors were becoming increasingly convinced the Federal Reserve will not cut interest rates any time soon. That view was reinforced by the Fed's statement on Wednesday in which it said it remains focused on seeing price pressure ease more, although it kept interest rates steady at 5.25%. Japanese wholesale prices rose more than expected in April, keeping the Bank of Japan on track for an interest rate increase later this year. Expectations are growing for the BoJ to lift rates to 0.75% from the current 0.5% in the third quarter.


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