ChainCatcher message, Monex Europe senior foreign exchange market analyst Nick Rees stated that the Federal Reserve's latest interest rate decision marks the beginning of the FOMC's extended pause on interest rate cuts, although it is still too early to say this definitively.

It is now expected that the Federal Reserve will remain on hold at least until the first half of 2025. If correct, this should support the upward movement of the dollar in the coming months.