Dollar's Rebound Pauses ahead of FOMC, Oil Prices Decline
Dollar's rally slowed slightly in early US session despite robust ADP job data, as traders adopt a cautious stance ahead of the highly anticipated FOMC statement and Chair Jerome Powell's press conference. With a hawkish shift expected from Fed, the extent of Powell's hawkish tone remains the primary focus. Market participants are speculating on whether Powell will merely dismiss a rate cut in June, suggest fewer rate cuts throughout the year, or even hint at the possibility of a rate hike.
Source: actionforex.com
