Fed rate-path uncertainty, European gas crunch dominate currency markets

Published by
Reuters UK

By Sujata Rao and Tom Westbrook LONDON (Reuters) -With a U.S. interest rate rise priced for this week and uncertainty mounting over the Fed’s policy-tightening path, the dollar held off recent two-decade peaks on Tuesday, while Russia’s latest gas supply cut kept the euro under pressure. The U.S. Federal Reserve starts a two-day meeting later in the day and is expected to deliver a 75 basis-point interest rate rise. But many traders are wondering whether softening growth may prompt it to shift focus away from inflation and signal a slower rate hike pace ahead. Futures contracts tied to the Fed…

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