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GBP/USD Forecast: 06/04/2016

US FOMC Meeting Minutes

On April 6, 2016, the US Federal Reserve System is expected to release the last FOMC meeting minutes. Considering the anticipated speech by Janet Yellen during this meeting, it can be expected that the language of the minutes will be rather guarded, from which the market could presumably infer about the fading prospect of raising the key interest rate this year. In that event, as a result of the reaction to failed expectations of the key rate being raised, a rapid weakening of the US dollar against all its major peers is inevitable.
In this case, a buy position on GBP/USD opened upon the release of the minutes can make a profit worth $2,000 in a short period of time, with trading one lot.

US FOMC Meeting Minutes

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