0848 GMT - The dollar is likely to stay bid as focus turns to the Federal Reserve's meeting, ING's Chris Turner says. With no signs of de-escalation in the Middle East conflict, it seems markets want news on a ceasefire before removing the risk premium buoying energy and the dollar, he writes. Until then, attention will be on the central bank response. There is now a risk of U.S. inflation heading to 3.5% and not 2.0% this summer, Turner says, and the FOMC will likely question market pricing of another rate cut this year. The dot plot could also push the median expectation of a cut this year into 2027 as well. Investors will want clear evidence of improvement in the conflict before trying to pick a top in the dollar. DXY last at 100.28. (megan.cheah@wsj.com)

(END) Dow Jones Newswires

March 16, 2026 04:48 ET (08:48 GMT)

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