With the expectations of the FED raising interest rates by another 25 basis points, this should create some volatility in the USD. However, since the FED has already raised rates once this year, the market will react more based off of what FED Chairman Jerome Powell discusses for the future of our economy and rate expectations for the remainder of this year. Expect some volatility this afternoon with the announcement of US interest rates and also Thursday July 14th while the ECB will discuss their monetary policies. If the ECB press conference is more hawkish than expected, then a potential spike up in EURUSD is likely.
Overall, I see this pair dropping her panties over the next week or two.
Overall, I see this pair dropping her panties over the next week or two.