The dollar steadied after the Federal Reserve held rates at 3.75% to 4% in a 10-2 vote, with two officials favoring a hike, and Chair Kevin Warsh gave no clear steer on December. Traders pared bets on 2027 hikes and two-year Treasury yields dipped to 4.678%, though CME's FedWatch still implies about a 78% chance of at least one hike by December, with the dollar index near 102.26. In Europe, the ECB is expected to hold its deposit rate at 2.5%, with attention on French bond turmoil and whether Christine Lagarde leaves early. In the UK, Chancellor John Healey's first Budget left £15bn of fiscal headroom for 2029-30, down from £23.6bn in March, while the OBR raised 2026 growth to 1.2% but cut its 2027 forecast to 1% from 1.6%. On the 4-hour chart, DXY is trading near 102.23 after retesting the 102.03 support zone.
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US dollarFedinterest ratesexchange ratesECB
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Related tickers and likely impact
DXY
▼ Likely negativeRelevance: medium
| Market | Currencies |
|---|---|
| Close on 10/28/2026 | 102.14 |
| Change that session | -0.22% |
EUR/USD
▲ Likely positiveRelevance: medium
| Market | Currencies |
|---|---|
| Close on 10/28/2026 | 1.11540 |
| Change that session | +0.24% |
GBP/USD
▲ Likely positiveRelevance: low
| Market | Currencies |
|---|---|
| Close on 10/28/2026 | 1.33245 |
| Change that session | +0.13% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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