The dollar index is moving towards the Fed
Investing.com – The u.s. dollar rose on Tuesday against other major currencies, as investors await the monthly meeting of monetary policy of the federal Reserve, which is expected to begin later in the day.
The Fed is expected to greatly increase its rate by a quarter point at the conclusion of its two-day meeting Wednesday, but investors will focus mainly on the indications as to the pace of monetary policy tightening for the rest of the year.
The dollar index, which measures the greenback’s strength versus a weighted basket based on the trade of six major currencies, rose 0.19% to 89,64 6: 15 (10: 15 GMT).
The euro is declining, with the EUR / USD down 0.26% to 1,2309, while the GBP / USD has continued to 1,4023.
The euro strengthened after a Reuters reported on Monday that the decision makers of the european central Bank focused on the bond purchases and the future path of interest rates.
During this time, the demand for the pound was still supported by the news that the United Kingdom and the european Union have reached an agreement on a transitional agreement of 21 months after the Brexit
The yen declined, with the USD / JPY up 0.27% to 106.39, while USD / CHF added 0.18% to 0.9526.
Moreover, the dollars of australia and new zealand have decreased with the AUD/USD down 0.27% to be 0.7696 and NZD/USD down 0.44% to 0.7209.
During this time, the USD / CAD was almost unchanged at 1.3078.