1. Will The USD Rally After Today’s Fed Meeting?
The dollar traded flat on Wednesday morning ahead of a Federal Reserve meeting that is widely expected to end with an interest rate hike. It is important to note that investors have already priced in two more rate increases this year and some in 2019, leaving little room for further USD gains. The dollar has benefited from a hawkish rate outlook all year, but has lost steam during the last few weeks, as other economies such as the euro zone improved. The important question to ask is whether the Fed reshapes its monetary policy outlook for the next few years to factor in stronger GDP growth. If the FED signals more future rate hikes than previously expected, the USD is likely to gain across the charts.*
3. Ripple Rallies 21% As Coinbase Announces Plans To List New Cryptocurrencies
Last week, there was no stopping Ripple XRP. Ripple soared by 100%, dethroning Ethereum as the second largest cryptocurrency! Today, XRP is yet on another bull run adding as much as 21% on an announcement by Coinbase to “rapidly list more coins”. By all indications this could lead to the listing of XRP as it meets all Coinbase requirements.**
2. GBP/USD Stable Ahead Of Fed Meeting & Amid Brexit news
The GBP/USD traded flat on Wednesday morning amid mounting tension ahead of an all-important Fed meeting at 18:00 GMT and as the UK opposition Labour Party is set to open the door to a second referendum as negotiations continue. UK PM Theresa May stated that she preferred a no-deal Brexit over a Canada-style free-trade deal. Later on the day, reports were released that the EU is ready to offer UK PM May a free-trade area on the condition that there will be a customs border that can make trade less than frictionless.***
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*Source: Reuters, Sep 26, 2018 / 8:06 AM
**Source: Ripplecoinnews, Sep 26, 2018 / 4:16 AM GMT
***Source: FXStreet, September 26, 2018: 3:03 AM ET
