Report: The Federal Reserve may stand pat, US Treasury yields fall, and the US dollar remains steady.

Before the Federal Reserve meeting, US Treasury yields fell during the European trading session, while the US dollar held steady. The market expects the Fed to keep the federal funds rate target range unchanged at 3.50%-3.75% at this meeting. Bas Kooijman of DHF Capital S.A stated in a report: "Expectations regarding the Fed's stance have been constantly changing prior to Chairman Powell's comments, along with heightened geopolitical tensions and their impact on inflation risks, which have exacerbated market caution." Following the surge in oil prices, the market has reduced its expectations for rate cuts this year from an estimated about 2.5 times to once, and prices have already reflected this expectation. According to Tradeweb data, the yield on the 10-year US Treasury fell by 1.7 basis points to 4.182%. The DXY dollar index is currently at 99.545, holding steady.