Low FX Volatility Ahead of Fed Decision as Traders Remain Skeptical on Iran Deal

FX trading volumes were notably low on the day preceding the Federal Reserve meeting, with participants questioning whether market data was updating correctly. This lack of activity continued from the prior session, even amid headlines that appeared positive regarding the Iran conflict.

Traders remain skeptical, citing deep uncertainty over the Iran deal and other unresolved factors. The cautious mood suggests a wait-and-see approach ahead of the Fed's policy announcement, which could dictate the next directional move in currency markets.