ING strategist Francesco Pesole said in a note that after an interim US‑Iran peace deal the Fed decision could test the USD's resilience to falling oil prices. Even if the Fed holds rates unchanged on Wednesday, markets will seek confirmation that policymakers—especially new Fed chair KEVIN WARSH—remain open to further hikes. If Warsh or the broader FOMC signals a stance materially at odds with market expectations, the USD would face heavy selling; Pesole added that removing an easing bias shoul

ING strategist Francesco Pesole said in a note that after an interim US‑Iran peace deal the Fed decision could test the USD's resilience to falling oil prices. Even if the Fed holds rates unchanged on Wednesday, markets will seek confirmation that policymakers—especially new Fed chair KEVIN WARSH—remain open to further hikes. If Warsh or the broader FOMC signals a stance materially at odds with market expectations, the USD would face heavy selling; Pesole added that removing an easing bias should be sufficient to support the currency.