The U.S. dollar is retreating as investors await the upcoming Federal Reserve decision. Here is an analysis for the EUR/USD, GBP/USD, USD/CAD, and USD/JPY currency pairs.
The EUR/USD pair is expected to see some gains as the dollar weakens. The GBP/USD pair may also experience some upward movement as the dollar pulls back. On the other hand, the USD/CAD pair could face some challenges as the Canadian dollar strengthens. Meanwhile, the USD/JPY pair may see some volatility in response to the Fed decision.
Overall, the U.S. dollar’s movement ahead of the Fed decision is likely to impact these currency pairs in different ways. Traders should keep a close eye on market developments to make informed decisions.