EUR/USD Stable-to-Lower Ahead of Fed

The euro was stable against some currencies and lower versus others ahead of the Federal Reserve policy statement due to release later today.

While no big changes in the Fed’s stance are expected, investors were still a bit nervous and reluctant to risk. Traders were also waiting for today’s television debates between Emmanuel Macron and Marine Le Pen before the second round of the French presidential elections this weekend. Meanwhile, Eurostat released data for eurozone gross domestic product in the first quarter of this year, which showed the same 0.5% growth as in the previous three months, matching forecasts.

EUR/USD dropped from 1.0928 to 1.0912 as of 15:15 GMT today. At the same time, EUR/JPY ticked up from 122.41 to 122.62, trading near the highest level since March 13.

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