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FX Market to Focus on FOMC Statement for Rate Hike Timing Clues
The Federal Open Market Committee (FOMC) will wrap its two day meeting Wednesday, July 29 at 2:00 pm EDT and will release a written statement along with its monetary policy decision. There is no interest rate change expected at this meeting. The timing of the first rate hike will be the main the answer the market will try to gleam from the FOMC statement. The next meeting will be in September and could see the start of a new monetary policy cycle if the Fed starts raising interest rates. The Federal Reserve shocked markets on December 2009 with a 75 basis points rate cut that left the benchmark interest rate at its ... (full story)