Commerzbank analyst Volkmar Baur said the USD is likely to remain firm even if Fed Chair Kevin Warsh gives no clear signal at Wednesday’s meeting about further tightening in December. Baur said the Fed may keep rates unchanged at the meeting and, if Warsh maintains his usual terse delivery, the press conference is unlikely to reveal clues on December policy; unless remarks erode market bets for a December hike and two further increases next year, the dollar should stay supported.

2026-10-28

Commerzbank analyst Volkmar Baur said the USD is likely to remain firm even if Fed Chair Kevin Warsh gives no clear signal at Wednesday’s meeting about further tightening in December. Baur said the Fed may keep rates unchanged at the meeting and, if Warsh maintains his usual terse delivery, the press conference is unlikely to reveal clues on December policy; unless remarks erode market bets for a December hike and two further increases next year, the dollar should stay supported.