While anticipation of a Fed rate rise in September grows, Saxo Bank's Simon Fasdal isn't convinced. He believes the FOMC will remain cautious over the coming months and has three reasons why an imminent hike is not likely to be on the cards.
He points to emerging market currencies that are weakening, a lack of global growth and lower commodity prices putting downward pressure on inflation. News of the latest Fed decision will emerge later on Wednesday and traders will be looking for clues as to just what the committee is thinking.