By Vicki Schmelzer
NEW YORK (MNI) - Heading into Wednesday's Federal Reserve decision, FX
market players remained bearish towards the euro, with most looking for a break
of this month's lows near $1.0810 at some point in coming weeks.
If the Fed statement has an element of hawkishness, then this move may come
sooner rather than later, traders said.
However, if the Fed continues to merely keep the door open for a 2015 hike,
but not necessarily a September hike, then it may be better to wait for more
attractive levels to sell into, they said.
The euro was trading at $1.1057 Tuesday, in the middle of the day's range
of $1.1022 to $1.1100 as well as this month's range of $1.0809, seen July 20 to
$1.1216, seen July 10.