Forex Today: Markets brace for volatility surge on Fed rate decision and Powell presser

The Fed is widely expected to raise its policy rate by 25 basis points to the range of 4.75%-5% following its March policy meeting. The revised Summary of Projections will also be published alongside the policy statement at 1800 GMT. Half an hour later, Powell will deliver his prepared remarks and respond to questions from the press.

Following the rejection from the $2,000 area at the beginning of the week, Gold price extended its downward correction on Tuesday and broke below $1,940.registered small daily gains on Tuesday and continues to in a tight range above $28,000 early Wednesday. After having lost nearly 3% on Monday,regained its traction and rose nearly 4% on Tuesday. ETH/USD fluctuates in a tight channel at around $1,800 in the early European session.

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Source: Financial Digest (financialdigest.net)

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