The FOMC decision on the federal funds rate and the corresponding statement are due at 21:00 MT time.
The policy of the Federal Reserve is extremely important for the dynamics of the US dollar. This is the first Fed’s meeting since Donald Trump officially became the US president. According to the forecasts made in December, the FOMC members were aiming at 3 rate hikes at 2017. However, the Fed’s chairwoman Janet Yellen in her recent speech said that she can’t be precise about the timing of interest-rate hikes. No policy changes are expected this time, but traders will still pay great attention to the central bank’s statement looking for hints about its future plans. If the Fed confirms its intention to raise rates this year, the greenback will strengthen, but if the regulator sounds cautious, the US currency will decline.