Kevin Warsh's first meeting as Federal Reserve (Fed) Chair was billed as a quiet hold, and on the headline rate it delivered exactly that. Everything wrapped around that hold, however, was a hawkish blow to the Euro.

The Federal Reserve's (Fed) latest dot plot projections, released by the Federal Open Market Committee (FOMC) on Wednesday, show policymakers now expect interest rates to stand at 3.8% by the end of 2026, up from 3.4% in March and above the current midpoint of the target range, signaling that offici

The USD/JPY pair rises near the 160.40 level after the Federal Reserve (Fed) left interest rates unchanged in the 3.50%-3.75% range, as widely expected, in Kevin Warsh’s first policy meeting as Fed Chair.

Cable collapses during the North American session, as the Federal Reserve keep interest rates unchanged, but the ‘dot-plot’ hints at a divided central bank, with half of the eighteen reported dots in the ‘dot-plot’ seeing interest rates higher, which boosted the Greenback.

The Federal Reserve (Fed) left the federal funds rate at 3.50% to 3.75% on Wednesday, but the hold was the least interesting part of Kevin Warsh's first meeting as Chair.

The Federal Reserve (Fed) held the federal funds rate at 3.50% to 3.75% on Wednesday, but Kevin Warsh's first meeting as Chair was anything but a placeholder.

Gold price holds gains as the Federal Reserve keeps rates steady at 3.50% to 3.75% on Wednesday, while the Summary of Economic Projections (SEP) shows policymakers expect inflation above the 3% threshold. At the time of writing, the XAU/USD trades volatily within the $4,330-$4,280 range.

United States Fed Interest Rate Decision meets forecasts (3.75%)

The USD/CHF remains steady on Wednesday as market participants await the US central bank's monetary policy decision, with the Federal Reserve expected to hold rates unchanged. At the time of writing, the pair trades at 0.7932, flattish.

Gold (XAU/USD) price rises 0.77% on Wednesday as traders await the Federal Reserve’s (Fed) monetary policy decision, the first one led by Kevin Warsh, in which the central bank is expected to keep rates steady amid the jump in inflation sparked by the Iran war.

West Texas Intermediate (WTI) trades around $75.70 on Wednesday at the time of writing, posting a loss of 0.22% on the day.

ABN AMRO’s research examines how evolving Federal Reserve policy and Eurozone fundamentals may shape EUR/USD over the coming quarters.

Decentralized Finance (DeFi) tokens exhibit mixed signals on Wednesday, with Uniswap (UNI) slightly pulling back from an early-week rally to highs around $3.73, while Aster (ASTER) extends its recovery near $0.80. Bitcoin (BTC) holds above $65,000 following a rejection at June highs around $67,000.

Russia Producer Price Index (MoM) declined to 2.5% in May from previous 6.1%

Russia Producer Price Index (YoY) up to 9.4% in May from previous 5.5%

The Pound Sterling retreats towards 1.3400 on Wednesday after the latest UK inflation report, forcing investors to reassess hawkish bets on the Bank of England, while solid US Retail Sales boost the Greenback, supported by US exceptionalism. The GBP/USD trades with losses of over 0.22%.

The AUD/USD pair trades near 0.7070 with a neutral tone on Wednesday, as the Australian Dollar (AUD) benefits from improved risk sentiment following the latest developments in the US-Iran conflict.

United States EIA Crude Oil Stocks Change came in at -8.262M below forecasts (-4.6M) in June 12

NZD/USD trades around 0.5820 on Wednesday at the time of writing, down 0.24% on the day as investors reduce risk exposure ahead of the Federal Reserve (Fed) monetary policy announcement.

United States Pending Home Sales (YoY): 4.8% (May) vs 3.2%

United States Pending Home Sales (MoM) above forecasts (0.8%) in May: Actual (3.8%)

United States Business Inventories meets expectations (0.5%) in April

Ripple (XRP) remains weak on Wednesday as investors cautiously await the Federal Reserve’s (Fed) interest rate decision. Market participants have fully priced in the Federal Open Market Committee’s (FOMC) rate decision, with nearly unanimous expectations of no change.

The Japanese Yen (JPY) remains under pressure despite the Bank of Japan’s latest rate hike, with analysts highlighting that the move has not been enough to trigger a sustained  recovery for the Japanese currency.

European Central Bank (ECB) policymaker Olaf Sleijpen said in a speech at an event organized by the European Economics & Financial Center (EEFC) in London on Wednesday that while a repeat of 2022's inflation spike appears less likely, the risk cannot be fully ruled out.

USD/CAD trades around 1.4010 on Wednesday at the time of writing, gaining 0.10% on the day. The pair maintains a bullish tone as the Canadian Dollar (CAD) remains under pressure from falling Oil prices, while traders position ahead of the Federal Reserve’s (Fed) monetary policy decision.

ABN AMRO economists discuss how a new chapter for the Federal Reserve could influence the US Dollar over coming months.