FXCM - The Federal Open Market Committee's rate decisions have quickly become the top market moving event risk for the entire currency market. No long is the central bank's policy announcement merely a fundamental guide for the US dollar. Now the benchmark lending rate has ties to general risk trends (with an influence over the carry trade), global growth and the health of the credit market. Heading into the FOMC's January rate decision, conditions are very different from those for the October and December meetings.
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