Currency – The dollar is lower, in view of the Fed, kiwi at a summit

© Reuters. The dollar is lower, in view of the Fed, kiwi at a summit

The dollar declined against a basket of rivals on Tuesday, as investors await the Federal Reserve meeting, while the kiwi reached a high of one month after the appointment of a new president within the central bank.

The index dollar, which measures the greenback’s strength against a basket of six major currencies, fell by 0.11% to 93.84 at 03:30 AM ET (08:30 AM GMT), leaving a higher two weeks of 94.08.

The Fed should raise interest rates at its two-day meeting that concludes Wednesday and is expected to tighten its policy two to three times next year, but concerns about moderate inflation could change outlook for 2018.

The Bank of England and the european central Bank will meet this week and are expected to keep their rates stable.

The dollar declined against the yen, with USD/JPY down 0.11% at 113.42.

The euro advance against the dollar with EUR/USD up 0.15% to 1.1786, away from a more as of three weeks reached Friday, and estimated at 1.1729.

The book progresses with the GBP/USD at 1.3360, in view of the inflation for the month of November, which is expected to show a decline in the cost of living last month.

The dollar new zealand reached a high of one month after having posted gains yesterday, with NZD/USD up 0.52% to 0.6947.

Demand for the kiwi continued to be supported after the government has appointed Adrian Orr as the new governor for the bank of New Zealand, for a term of five years, beginning in march 2018.

Orr, a former central banker, is seen as someone to trust who will likely be able to avoid a radical reform of the monetary policy.

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