Fed: Sticking to the Script: Overview for September 21, 2023

<div><img width="360" height="360" src="https://blog.roboforex.com/wp-content/uploads/2023/06/EURUSD_20-360×360.jpg" class="attachment-thumbnail size-thumbnail wp-post-image" alt="EUR/USD analysis today" decoding="async" style="margin-bottom: 15px;" /></div><p>The <a href="https://roboforex.com/beginners/info/charts/forex/eurusd/" data-internallinksmanager029f6b8e52c="35" title="EUR/USD">EUR/USD</a> pair saw an initial uptick but later dipped after the Federal Reserve's announcements.</p>

<p>The major <a href="https://blog.roboforex.com/blog/2020/06/19/how-to-choose-a-currency-pair-for-trading-in-forex/" data-internallinksmanager029f6b8e52c="142" title="Currency Pair">currency pair</a> is feeling the pressure on Thursday. The current EUR/USD exchange rate stands at 1.0632.</p>

<p>The US Federal Reserve has chosen to keep the <a href="https://blog.roboforex.com/blog/2019/10/22/trading-news-how-to-earn-on-interest-rates/" data-internallinksmanager029f6b8e52c="90" title="Interest rate">interest rate</a> steady during its September meeting, maintaining it within the targeted range of 5.25-5.50% annually.</p>

<p>In the Fed's statements, it was emphasized that this decision was unanimous, while hinting at the possibility of a potential rate hike before the year's end.</p>

<p>This aligns with the market's expectations, suggesting a potential increase in borrowing costs in the November meeting. The Fed made it clear that they intend to sustain the heightened rate for an extended duration.</p>

<p>Jerome Powell, the Chair of the Federal Reserve, expressed that the economy is anticipated to undergo a &quot;soft landing&quot;. While not the central scenario, it's regarded as a primary objective.</p>

<p>Overall, Powell adopted a cautious and somewhat enigmatic stance, reflecting a degree of uncertainty. Initially, the US dollar dipped, but swiftly recovered, maintaining its strong position.</p>

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