© Reuters. The dollar is moving towards the Fed, the kiwi advance
Investing..com – The dollar is advancing on Wednesday, as investors await the outcome of the policy meeting monetary to the Federal Reserve, while the dollar new zealand skyrocketed after the job.
The index dollar, which measures the greenback’s strength against a basket of six major currencies, is at 94.50 at 03:42 AM ET (07:42 AM GMT).
The Fed is expected to maintain its rates unchanged at the conclusion of its two-day meeting Wednesday, but investors are waiting for clues regarding the future path of rates and the timing of potential increases in 2018.
Traders are also awaiting the decision of the american president Donald Trump as the successor of Janet Yellen to head the Fed. The american president Donald Trump is considering to nominate Jerome Powell, which would signal the continuity of the monetary policy. Powell is perceived as less falcon that the economist John Taylor, the other candidate to lead the Fed.
The demand for the dollar was supported after a report showed Tuesday, as the economy progressed, with a view to employment on Friday.
Consumer confidence rose to a high of 17 years in October, boosting optimism on the health of the u.s. economy.
The dollar is advancing against the yen, with USD/JPY up 0.22% at 113.90.
The dollar in new zealand is also progressing, with the NZD/USD rose 1.1% to 0.6922 after figures showed that the unemployment rate had declined to a low of nine years of 4.6%.
The kiwi was under pressure in recent weeks on concerns related to the slowdown of foreign investment under the government coming in, which could weaken growth and lead to maintaining low interest rates.
The euro changes little with the EUR/USD at 1.1646, close to a low of three months to 1.1573.
The book is at a higher of two weeks, with the GBP/USD at 1.3290 on the forecasts that the Bank of England will increase its rates for the first time in a decade on Thursday.