All eyes on approaching Fed meet, yen slips further – Reuters.com
- Date: 15-Mar-2022
- Source: Reuters
- Sector:Economy
- Country:Middle East
All eyes on approaching Fed meet, yen slips further – Reuters.com
HONG KONG, March 15 (Reuters) - The yen remained under pressure on Tuesday and the Australian dollar was bruised by the latest lockdowns in China following new COVID-19 outbreaks, but moves were more muted than in recent days as traders eyes turned to this week's Fed meeting.
The U.S. Federal Reserve is set to raise rates for the first time since the pandemic at its meeting which concludes Wednesday, with traders looking for indications about the pace of future rate hikes.
Markets anticipate a 25 basis point rise at this meeting, according to the CME's Fedwatch tool, but pricing has risen to indicate a 70% chance of a larger 50 basis point hike at its subsequent meeting in May, due to concerns about inflation.
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