The FOMC will wrap up its 2-day meeting during the 6/18 US session. This one is important because it will include the central bank’s growth and inflation forecasts for the next 2 years. This should help shape investor’s expectations of monetary policy. Most likely the bank will shave another $10B off its bond purchase program, and maintain the key interest rate at near 0%. Investor’s forecast the next rate hike around mid-2015. If the FOMC hints at an earlier hike, it is hawkish and the USD should strengthen. If the projection is for later in the year, the FOMC is dovish, and USD should fade. Look for current trend, ... (full story)