China NBS Manufacturing PMI meets forecasts (49.5) in June

The EUR/USD pair nears December's high at 1.1681 following the Fed’s decision to deliver a 25 basis points rate cut. Fed median projection maintains 25 bps of rate cuts in 2026.

GBP/USD gains upward traction as the USD eased following the Federal Reserve decision to trim the benchmark interest rate by 25 bps. FOMC divided, Summary of Economic Projections shows no relevant changes.

Gold prices ticked marginally higher after the US central bank's monetary policy announcement, trading just above the $4,200 mark. A better market mood limits demand for the safe-haven metal.

Ethereum ETFs highlight a return of TradFi interest, pulling in $177.6 million on Tuesday, their highest inflow since October. Funding rates have remained modest despite the recovery from under $2,800.

The Federal Open Market Committee’s (FOMC) latest dot plot, released on Wednesday, indicates that interest rates will average 3.4% by the end of 2026, in line with the September projection.

Hyperliquid is trading above $28.00 at the time of writing on Wednesday, after rebounding from support at $27.50. The broader cryptocurrency market is characterised by widespread intraday losses ahead of the Fed monetary policy decision.