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Barchart
Barchart
Rich Asplund

Dollar Moves Higher Ahead of FOMC Results

US Federal Reserve Powell BOJ Interest Rates ECB Ueda Gold United States

The dollar index (DXY00) today is up by +0.41%.  The dollar is moderately higher ahead of the results of today's FOMC meeting, which is expected to show the Fed keeping interest rates unchanged. Also, expectations that Fed Chair Powell will signal steady policy for the foreseeable future due to the uncertainty of US trade policy is boosting the dollar.  A rebound in stocks today has reduced some liquidity demand for the dollar. 

The markets are discounting the chances at 1% for a -25 bp rate cut after today's FOMC meeting.

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