The post FOMC Interest “Pause”, Bitcoin Pressured by Strong Dollar! appeared first on Coinpedia Fintech News
The Federal Open Market Committee (FOMC) is expected to announce a “pause” in interest rate hikes on Wednesday, with a 99% chance of such a move at the next meeting on September 20, according to the CME FedWatch Tool. The target range for the federal funds rate is set to stay at 5.25%–5.5%. If inflation rises, a 25 basis point rise could be on the cards by the end of the year. Despite rising 1% in the past 24 hours to $27,144, bitcoin’s price is still under pressure from a US dollar index remaining at a high above 105.
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