The euro slightly advanced against the dollar ahead of the result of the Fed meeting. Hints on a rate increase in the near future would attract those investors searching for a higher yield to the dollar. Analysts surveyed by Bloomberg believe that this meeting might be the last one with no important statements. This time the Federal Reserve will not update its macroeconomic forecasts and Fed Chair Yellen will not hold a conference. Thus meeting minutes will be the only source of information about policymakers' mood and intentions.
The yen advanced amid positive retail sales data. The corresponding index rose by 0.9% in June beating analysts' expectations for a 0.5% rise. Sales rose by 0.3% during the same period last year. This is the third straight monthly increase. Total retail sales rose despite a 10.7% drop in sales of fuel. Cars, pharmaceuticals and cosmetics led the gains.
EUR/USD: the pair rose to $1.1085 in Asian trade
USD/JPY: the pair fell to Y123.30
GBP/USD: the pair traded around $1.5605-15