The dollar is slightly weaker on Wednesday ahead of the Fed's decision.
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The dollar is slipping ahead of the Fed
The dollar is slightly weaker on Wednesday ahead of the Fed's interest rate decision.
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The US dollar index is down by 0.2% at 101.54 as of 8:39 a.m. ET.
The latest interest rate decision from the Federal Reserve will be out at 2 p.m. ET.
Virtually everyone expects that the Fed will hike rates by 25 basis points. In fact, the World Interest Rate probability data provided by Bloomberg has traders seeing a 100% chance of a hike.
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"A hike today is as nearly a foregone conclusion as these things can get," Marc Chandler, global head of currency strategy, wrote. "The idea of not wanting to surprise the market, which some Fed officials underscored, works both ways. It means the market expectations are primed. It also means that when there is a nearly 100% chance discounted, not to deliver would also be a destabilizing surprise."
Folks will likely be paying close attention to the Fed's dot plot for hints about future hikes.
As for the rest of the world, here's the scoreboard as of 8:47 a.m. ET:
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