Place your bets now. Here are the current market predictions on what the Fed will do during this week's meeting and the next.

(You can enlarge image by clicking on them)

An increase to 5.25% this week is pretty much guaranteed and has already been priced in.

This is the meeting that the market has turned their attention on. The market has currently priced in about a 60% chance that the Fed will raise rates to 5.50% in August. There'all s also a 25% chance that the Fed will keep rates unchanged at 5.25% (assuming they first raise it to 5.25% this week).

As new economic and inflation data arrives, the values on this chart will obviously change to reflect the new information, and so will the currency exchange rates.