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The updated language in the Fed policy statement

The updated language in the Fed policy statement | 04 May 2023

04 May 2023, GBP/USD

The updated language in the Fed policy statement

GBPUSD trading plan:

The Federal Reserve raised interest rates by a quarter of a percentage point and signaled it may pause further increases, giving officials time to assess bank failures, how the Washington standoff over the U.S. debt ceiling plays out, the course of inflation. The U.S. central bank lifted it's benchmark overnight interest rate to the 5.00%-5.25% range, it's tenth consecutive increase since March 2022, and dropped language in it's policy statement saying the Federal Open Market Committee still "anticipates that some additional policy firming may be appropriate in order to attain a stance of monetary policy that is sufficiently restrictive to return inflation to 2% over time," replacing it with a more qualified statement.

Investment idea: buy 1.2560 and take profit 1.2640.

David Johnson
Analyst of «FreshForex» company
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