Greenback fluctuates above 13-month minimum ahead of Fed verdict

Greenback fluctuates above 13-month minimum ahead of Fed verdict

On Wednesday, the American currency fluctuated above a 13-month minimum versus a basket of key currencies because market participants waited for the Fed’s policy statement for further clues on the timing of another monetary tightening.

The major US bank is generally expected to keep interest rates on hold at the two-day gathering to be concluded on Wednesday. Market participants will be watching for any signs on whether the bank might lift rates again in 2017, and when it will start paring its huge bond portfolio.

There’s some focus on the likelihood that the key US financial institution could drop a hint at September as the starting date for reducing the bank’s balance sheet. That’s what head of trading in Asia-Pacific for OANDA, Stephen Innes told in Singapore.

Versus the Japanese yen, the major American currency was intact sticking to 111.89 yen, holding revenues having soared 0.7% on Tuesday.

The common currency stood still at $1.1647.

Similar

Aussie and Kiwi stand still vs. weaker greenback

On Thursday, the Australian and New Zealand dollars were intact versus their American counterpart because the US currency moderately recovered from losses posted after the publication of the minutes of the Fed’s latest policy gathering…

Greenback hits two-month low vs. yen

On Thursday, the evergreen buck hit a two-month minimum against the Japanese yen, having dropped after the minutes of the Fed’s latest gathering disclosed that some Fed policymakers were really concerned about constantly low inflation…

Popular

promotions you can be interested in

Deposit with your local payment systems

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Internal error. Please try again later