The Board of Governors of the Federal Reserve is expected to release their federal funds target rate today at 2:15 pm. No deviation is expected from its earlier announced strategy to keep the financial system running over two percent inflation through 2023 in order to meet any shortfalls on the central bank’s journey to get the US on a consistent two percent path. No change in tactic or strategy.
| Currency pairs | Exchange Rate Before Event | Event | Post Event | Exchange Rate Post Event |
| AUD/USD | 0.7666 | Federal Reserve announcement | No changes in Fed funds rate or discount rate expected | No major movement due to Fed announcement expected |
| USD/CAD | 1.2774 | Federal Reserve announcement | No changes in Fed funds rate or discount rate expected | No major movement due to Fed announcement expected |
| USD/CNY | 6.4822 | Federal Reserve announcement | No changes in Fed funds rate or discount rate expected | No major movement due to Fed announcement expected |
| EUR/USD | 1.2075 | Federal Reserve announcement | No changes in Fed funds rate or discount rate expected | No major movement due to Fed announcement expected |
| USD/INR | 73.0065 | Federal Reserve announcement | No changes in Fed funds rate or discount rate expected | No major movement due to Fed announcement expected |
| GBP/USD | 1.3689 | Federal Reserve announcement | No changes in Fed funds rate or discount rate expected | No major movement due to Fed announcement expected |
| USD/JPY | 104.0000 | Federal Reserve announcement | No changes in Fed funds rate or discount rate expected | No major movement due to Fed announcement expected |
| USD/MXN | 20.1832 | Federal Reserve announcement | No changes in Fed funds rate or discount rate expected | No major movement due to Fed announcement expected |
| USD/DKK | 6.1554 | Federal Reserve announcement | No changes in Fed funds rate or discount rate expected | No major movement due to Fed announcement expected |
| USD/NOK | 8.6452 | Federal Reserve announcement | No changes in Fed funds rate or discount rate expected | No major movement due to Fed announcement expected |
In other news ….
China's yuan inched higher against the dollar on Tuesday, underpinned by tighter cash conditions in domestic money markets following a spike in short-term borrowing costs. Yuan inches higher on tighter liquidity conditions | Reuters Focus is zeroing in when various Libor rates will expire, something ICE Benchmark Administration Ltd. is expected to clarify in the weeks ahead. Pivotal dollar Libor rates will likely live on until mid-2023, yet other Libors around the world may well expire at year-end. Libor Marks ‘Important Day’ With Partial Fix for Derivative Risk - Bloomberg There are other crucial factors driving the price of copper higher — and grains, too — but China is a big one. China has been using its exceptionally strong currency, the yuan, to stockpile copper and grains. China is Using its Currency to Stockpile Copper and Grains | Nasdaq
Alton Drew, Consiglieri 