US Dollar Steady Ahead of Fed Rate Decision
The US dollar remained flat against major currencies ahead of the Federal Reserve rate decision. Meanwhile, the New Zealand dollar fell sharply after its central bank unexpectedly left rates unchanged.
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Insights:
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The United States dollar held steady against major currencies on Wednesday afternoon ahead of the Federal Reserve's interest rate decision. The NZD/USD exchange rate tumbled as central bank policy divergences drove sharp currency movements. Markets are pricing in a 78% probability of a 25 basis point rate hike in December, per CME Group's FedWatch tool.
