What affect will last night’s Federal Reserve interest rate decision have on the US dollar?

It was quiet day for the US dollar on Wednesday as investors awaited news from last night’s US Federal Reserve interest rate decision. In the end the reaction was muted as the vote was the same as last time with only one member voting for an increase and the rhetoric in the following announcement was non-committal as to when the next increase would happen.

Today we look forward to some positive data releases, with the Advance Gross Domestic Product (GDP) figure expected to once again show growth in the previous quarter. Investors will be looking for any good news that may help the US Federal Reserve’s case to further raise interest rates in the short term. The weekly Labour data is also due, and this is expected to post another stable figure.

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