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      FOMC day: Embrace for some serious volatility in today’s session – Investec

      FXStreet (Delhi) – Research Team at Investec, note that at present there is only a slim chance of an interest rate increase priced in. However what that does mean is that whatever the outcome there is likely to be some volatility, although the Fed’s accompanying statement is likely to be designed to temper any volatility bought about by their decision.

      Key Quotes

      “The day before the US announces if it is to raise interest rates for the first time in 9 years US Consumer Price Index slipped back by 0.1% month-on-month, representing its first decline since January.”

      “Despite this drop in inflation, Federal Reserve officials had countered such an event previously by stating they only see lower energy costs as a temporary factor. So tonight is the night we’ve been waiting for all week.”

      “So if in the slim chance of a rate hike becomes reality it’s likely the Fed will say this is this will be it for the time being. However if they don’t raise rates (which is largely expected) they are likely to say one is just around the corner so the markets can be prepared.”

      Japan: Exports increase, imports contract, yen likely to weaken – BBH

      Research Team at BBH, note that Japan today reported August trade and the adjusted balance came in at –JPY359 bln vs. –JPY377 bln expected.
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      EUR/USD consolidates around 1.1320

      The buying interest in the EUR/USD remains intact, although the spot is trading in the sideways manner around 1.1320 ahead of the US session.
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