FRANKFURT (dpa-AFX) – The price of the euro changed little on Wednesday before the US Federal Reserve’s interest rate decision. In the morning, the common currency was trading at 1.1534 US dollars, around the same level as the previous evening. The price gains of the last two trading days have therefore stopped for the time being.
Investors on the foreign exchange market are waiting for monetary policy decisions in the USA, which are scheduled for the evening. The Fed is widely expected not to move interest rates in an environment unsettled by the Iran war. The key interest rate should therefore remain in the range of 3.50 to 3.75 percent.
Investors are particularly keeping an eye on the press conference by central bank chief Jerome Powell following the interest rate decision. The focus of interest is also on Fed members’ projections of future interest rate developments, economic performance and inflation.
Economic data will be published in the USA until the interest rate decision is made. Data on incoming orders and the development of producer prices will be available in the afternoon. However, producer prices for February will be published. They show the development before the significant increase in energy prices in the wake of the Iran war./jkr/stk
