FOMC Interest “Pause”, Bitcoin Pressured by Strong Dollar!

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.