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  • USD Breakout Needs a Spark - Will FOMC Provide it Tomorrow?

    From dailyfx.com

    The USDOLLAR Index is maintaining its 2016 rally thus far, continuing to hold above its daily 8-EMA, which hasn't seen two consecutive closes below it since December 25-28, 2015. Yet the nature of this rally has been a frail one, with market expectations for rate hikes this year dwindling to barely one; and in turn, participation among the components of the USDOLLAR Index has been far from consistent. We've been skeptical, but the FOMC meeting tomorrow represents a significant hurdle for greenback bears to clear - particularly because it means the Fed would have to admit a policy mistake. The Fed, as we said in our ... (full story)

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it will be more blah, blah, blah about how economy has improved but still has room for improvement and any Fed actions will be "data driven." Fed will never admit to any mistakes (like the Great Depression). They'll just continue on their course of wrecking lives and fortunes everywhere
"The market can remain irrational longer than you can remain solvent"
If they keep the rate unchanged what you think is going to happen to usd?
I don't think there is any point trying to answer that question because it will be overshadowed by language used and implications presumed by the market
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