Despite the downward revisions to growth seen for the first quarter, the Fed is unlikely to waver from its course of tapering by USD 10 bln per meeting when the two-day meeting concludes today. Update: Taper 5: lower 2014 GDP forecast – USD shakes Follow a live blog of Janet Yellen’s press conference. Yesterday’s inflation numbers came in on the firmer side, in line with other recent indications on prices giving a similar picture and the labour market continuing to show steady signs of improvement. We are likely to see Fed Chair Yellen given a more considered view of policy at the press conference today, after the March gathering saw considerably more volatility as she was a little too candid in her choice of words in relation to the timing of rate hikes after bond purchases had ended. That said, if anything the risk to the dollar is likely to be to the upside should the Fed sound a little more hawkish. Before then, the minutes to the June MPC Meeting are likely to attract more attention than usual. Last month, they noted that the decision to keep rates on hold had become more balanced for some and since then, we’ve had Carney’s speech last week suggest that rates could rise this year. Some viewed this as laying the ground for the minutes to show at least one person voting for higher rates. If seen, this will likely give some further support to sterling and allow cable to make a more sustained pushed above the 1.70 level. EURGBP is still the one to watch for a more sustained push below the 0.80 level. Further reading: GBPJPY Signaling Bullish Continuation NZD/USD: Trading the New Zealand GDP FxPro - Forex Broker FxPro - Forex Broker Forex Broker FxPro is an international Forex Broker. FxPro is an award-winning online broker, offering CFDs on forex, futures, indices, shares, spot metals and energies, serving clients in more than 150 countries worldwide. FxPro offers execution with no-dealing-desk intervention and maintains a client-centric business model that puts customer needs at the forefront of our operations. Our acquisition of leading spot FX aggregator, Quotix, enables us to offer access to a deep pool of liquidity, as well as top-class order-matching and some of the most competitive spreads in the market. FxPro is one of only few brokers offering Negative Balance Protection, ensuring that clients cannot lose more than their overall investment. FxPro UK Limited is authorised and regulated by the Financial Conduct Authority (registration number: 509956). FxPro Financial Services Limited is authorised and regulated by the Cyprus Securities and Exchange Commission (licence number: 078/07) and by the South Africa Financial Services Board (authorisation number 45052). Risk Warning: Trading CFDs involves significant risk of loss. View All Post By FxPro - Forex Broker Daily Look share Read Next MPC Minutes open door for 2014 rate hike – GBP/USD Yohay Elam 8 years Despite the downward revisions to growth seen for the first quarter, the Fed is unlikely to waver from its course of tapering by USD 10 bln per meeting when the two-day meeting concludes today. Update: Taper 5: lower 2014 GDP forecast - USD shakes Follow a live blog of Janet Yellen's press conference. Yesterday's inflation numbers came in on the firmer side, in line with other recent indications on prices giving a similar picture and the labour market continuing to show steady signs of improvement. We are likely to see Fed Chair Yellen given a more considered view of… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk.2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk.3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk.4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk.5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.