The British Pound advances modestly 0.15% on Wednesday as traders await the outcome of the Federal Reserve’s (Fed) monetary policy decision. Nevertheless, Sterling climbs as inflation data in the UK, justifies the Bank of England’s (BoE) stance of holding rates on Thursday.
The Norwegian Krone (NOK) remains in the spotlight ahead of the decisive Norges Bank interest rate decision scheduled for Thursday at 08:00 GMT. The EUR/NOK pair is trading around 11.60, up 0.3% on the day, after hitting 11.54 last week, its lowest level in three months.
Today's Fed meeting promises to be one of the most exciting in a long time, as it holds plenty of potential for surprises. Let's start with the interest rate move: a 25 basis point cut is fully priced in.