Forex – dollar back down, investors await the Fed’s decision

© Reuters. – The greenback remained on Tuesday, close to its low of two and a half weeks, as investors await the economic forecasts of the federal Reserve meeting this week.

The dollar index, which measures the greenback’s strength against a basket of six major currencies, lost 0.1%, to 95,895, at 10: 38 am ET (14h38 GMT).

The Fed is expected to maintain its key rates unchanged at the last policy meeting general Wednesday, but the attention will be turned towards its economic growth forecasts updated, known under the name of “dot-plot”. The weakening economic data this month has enabled the Fed to exercise patience and to review its data before raising short-term rates.

The dollar has not been affected by the increase in orders to factories in the United States. The Census Bureau reported that orders to factories rose 0.1% in January, seasonally adjusted, while american manufacturing has developed despite fears of a global economic slowdown.

The us dollar appreciated against the yen, with USD / JPY up 0.05% at 111,46.

The pound sterling has declined, the Prime minister Theresa May asking probably an extension to Brussels, after the cancellation of the vote on his plan for the Brexit. The GBP / USD has slipped 0.1% to 1,3242.

Elsewhere, the AUD / USD remained stable at 0,7102, while the NZD / USD gained 0.2% to 0,6865. The loonie has risen with the USD / CAD lower by 0.5% to 1,3264 and the EUR / USD edging up 0.04% 1,1329.

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