The dollar is largely unchanged this morning but is still strong against a basket of currencies ahead of the Federal Reserve’s monetary policy meeting, which will take place this evening.
It’s thought that officials will announce the start of the tapering of their $120 billion monthly bond-buying program. The markets will be listening out for any comments surrounding inflation and interest rates, although officials have already said that interest rates won’t be hiked until bond buying ends.
There is a series of data releases leading up to the meeting, including PMI figures, which are expected to show that the services and manufacturing industries have slowed slightly in October.
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