USD to rebound if Chairman Bernanke can thread the needle
Today’s FOMC meeting result at 18 GMT (2pm local) will be accompanied by updated economic projections and followed by an 18:30 GMT press conference. The Fed will very likely confirm that it is leaning towards tapering the pace of its asset purchases later this year, but at the same time endeavour to signal that this step is contingent on data improvement, will still result in on going policy accommodation, and will not be undertaken in a disruptive manner.
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BNP Paribas