In early European session on Wednesday (December 17), the pound fluctuated downward against the dollar and is now trading around 1.5722, as investors took profits from yesterday's rise before the Federal Reserve's resolution and the minutes of the British Bank meeting were announ

In the early trading of the European market on Wednesday (December 17), the pound fluctuated downward against the US dollar, and now trading around 1.5722, as investors took profits from yesterday's rise before the Federal Reserve's resolution and the minutes of the British Bank meeting were announced.

Yesterday, the pound showed a roller coaster trend against the US dollar. After the poor CPI data in the UK in November was released, the exchange rate plunged more than 40 points in the short term and then quickly rose by more than 100 points, as Bank of England Governor Carney said that the sharp drop in oil prices may support economic growth.

Bank of England will release minutes of the meeting at 17:30 Beijing time, and the UK unemployment rate data will also be released. The market expects interest rate resolution ratios to change, after two committee members including Martin Weale and Ian McCafferty favored rate hikes, although the outlook for UK economic growth is not clear. In addition, the market expects a decline in unemployment, which could give the pound a brief boost.

html The focus of the 0-day is the Federal Reserve's resolution announced in the evening. At 3:00 am on Thursday, Beijing time, the Federal Reserve will announce interest rate statements and economic expectations. At 03:30 after the meeting, Federal Reserve Chairman Yellen will hold a press conference.

A securities trader said that before the Fed's interest rate decision was announced, market trading must be cautious and wait-and-see. Federal Reserve Chairman Yellen should give more guidance on interest rate hikes after this meeting.

The Fed's wording that it deletes or changes "for quite a while" has been included in the market because the wording "for quite a while" implies that the Fed will not raise interest rates within 6 months. If it is true as market expectations, the pound will depreciate significantly against the US dollar, and focus on the support of the 15-month low of 1.5540.

However, the world is shrouded in the shadow of plummeting oil prices and a possible currency crisis in Russia, which has made some investors worried that the Fed will not show a tough stance.