The Federal Reserve will raise rates when it meets on Wednesday, with Fed funds futures pricing in a 100% chance of a 25-bps rate hike. The glide path of interest rates have steepened in recent weeks, with investors now pricing in a 77% chance of a fourth and final hike this year in December. The already high expectations for further tightening mean that a rate hike alone won’t be enough to help the US Dollar. Accordingly, attention will be on the updated Summary of Economic Projections, which are due to include 2021 forecasts for the first time. For the US Dollar to rally, the new projections will need to show that ... (full story)