Photographer: Andrew Harrer/Bloomberg

Charting the Markets: Investors Braced on Fed Day

Australia's dollar drops, Volkswagen defies profit warning, and Sweden's krona responds to QE.

Global stocks are little-changed as investors await the outcome of the Federal Reserve's two-day meeting. Although there's next to no chance of the Fed hiking rates — Bloomberg data put the odds at 4 percent — the policy statement will be dissected for clues on when the cost of borrowing might rise. When that eventually happens, it will be the first hike since 2006.

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