Last week the pair EUR/USD decreased amid the German government bonds yields growth relative to their US counterparts. The European currency continued to strengthen in the pair with the US dollar as investors found no support in the American economic fundamental publication. However the pair decreased by the end of the trades.
During the day the pair GBP/USD was in the flat. The oil prices decline has not allowed the British currency to take advantage from the US consumer confidence weak data.
During the day the pair USD/JPY was trading in the flat amid the quotations moderate decrease in the world leading stock markets. Nevertheless the trades closed with the pair’s decrease.
This week the US Federal Reserve meeting is in the center of our attention. There are concerns about the possible stock market collapse amid the rates increase. The reason for the rate increase can be the core inflation growth from 1.8% y/y to 1.9% y/y which is published on Wednesday. The Fed officials have repeatedly stated that it is not necessary to wait for the exact target of 2.0% to raise interest rates.