Corporate foreign exchange news

Published by Jamie JemmesonThe dollar lost ground against major competitors in foreign exchange trading this morning (March 16th) as investors awaited the latest policy statement from the Federal Reserve.Polls conducted by Reuters show that traders expect the Fed to maintain interest rates at near-zero levels and uphold their pledge to keep rates pegged back for an "extended period".The pledge has in past months soothed markets but with signs of recovery emerging, there is a degree of speculation that the Fed will soon look for ways to start raising rates.Despite the green shoots, primary dealers contacted by Reuters forecast that the rate hike will not be seen until the second half of the year.In foreign exchange trading this morning, the dollar was down against a basket of currencies, although it made further headway against the pound, which is languishing amid growing concern about the UK public deficit.The European Commission has now entered the fray, with a report obtained by Reuters slamming the Treasury's lack of action to cut debts.For more information on foreign exchange treasury services and risk management, visit our Corporate FX site