On the forex market this afternoon, the single European currency remained without much direction against the U.S. dollar, while remaining lower than 1.3512 / 1.3517 the dollar tested in the last three sessions.

The U.S. Federal Reserve started their meeting which ends tomorrow night with a decision of the Monetary Policy Committee and a press conference.

A neutral view was also taken against the yen (+ 0.13% to 138.36), the GBP rate (- 0.08% to 0.7987) and Swiss franc (+ 0.07% to 1.1287 ).

Yesterday, the dollar was affected by the latest forecasts from the International Monetary Fund (IMF). Indeed, the international organization has significantly reduced its growth forecast for the U.S. economy as of 2014, which amounts to 2.8 to 2%.

The IMF has also found that particularly harsh winter conditions had an impact on the economy of the United States in the first quarter, during which GDP contracted by 1%, according to the Bureau of Economic Analysis. They added that a significant rebound is underway, but should not, however, fully offset the ‘shortfall’, hence lowering projections. Unemployment ‘should decline slowly’ says the Fund, in part because previously unemployed ‘discouraged’ to look for a job should re-register on the lists as the macroeconomic trend will improve.

Note that a growth of 3% of U.S. GDP is still expected next year.

The international monetary fund has also taken the opportunity to make recommendations to the Fed and the FOMC, the monetary policy committee, the IMF recommends that the U.S. central bank not quickly raise its key rate and a gradual approach and even if rising inflation, weak labor allowing the Fed to maintain a highly accommodative monetary policy.

Meanwhile with the Fed, traders remain cautious before the FOMC statement and press conference by Janet Yellen on Wednesday night.