FXStreet (Bali) - The FX Team at RBS does not expect this week's FOMC to make any significant updates to its statement’s key language.

Key Quotes

"A busy data calendar in the US should place market focus squarely on the USD and FOMC monetary policy expectations. The FOMC’s July meeting is this week and we expect it will make few, if any, updates to its statement’s key language."

"This week’s meeting does not include a new press conference or forecasts, meaning the FOMC will not have the opportunity to tailor its message regarding a communication update with additional information. At the same time, it does not appear that the FOMC’s views have changed significantly since they last met in June, as per Fed Chair Yellen’s largely unchanged Congressional Testimony."

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