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Apr 28 - 10:55 AM

USD: FOMC: Marginally, There Is More Scope For USD Upside Than Downside - Credit Suisse

By eFXdata  —  Apr 28 - 09:30 AM

Credit Suisse discusses its expectations for today's FOMC policy decision.

"Today’s FOMC meeting seems unlikely to be a major market mover, with the market mindful of how last week’s similarly low-excitement ECB meeting did little to change prices or perception...If there is a surprise, we see the most likely form being along the lines of Fed chair Powell putting forward a notional timeline for “herd immunity” that allows the market to become firmer in its conviction for when tapering and rate hikes respectively can start," CS notes. 

"As such, to the extent that there is any USD impact from the FOMC today, we see marginally more scope for upside than downside against defensive currencies," CS adds. 

Source:
Credit Suisse Research/Market Commentary

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