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20.06.202310:22 Forex Analysis & Reviews: Markets continue to move sideways

The empty macroeconomic calendar will keep market players focused on the speeches of Fed members, as the outcome of the central bank's meeting last week left the situation regarding the real prospects of interest rate hikes rather uncertain.

The Fed decided to keep the key interest rate unchanged this June, hinting that the same could happen in July. This resembles a complex verbal intervention, so market players need to carefully scrutinize the statements of Fed members in order to understand what actions the central bank will actually take.

However, as there should not be any major surprises just a week after the Fed's meeting, the market will remain relatively calm, unless any unforeseen circumstances take place.

Forecasts for today:

Exchange Rates 20.06.2023 analysis

Exchange Rates 20.06.2023 analysis

EUR/USD

The pair trades above 1.0900. Any improvement in market sentiment will push the quote to 1.1000.

USD/CHF

The pair trades around 0.8955. A breakdown will lead to a local price decline towards 0.8900.

*El análisis de mercado publicado aquí tiene la finalidad de incrementar su conocimiento, más no darle instrucciones para realizar una operación.

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