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Barchart
Barchart
Rich Asplund

Dollar Posts Modest Gains Ahead of FOMC Decision

The dollar index (DXY00) today is up by +0.07%.  The dollar is posting modest gains today ahead of the results of today’s FOMC meeting.  Weakness in stocks today is boosting some liquidity demand for the dollar.  Gains in the dollar are muted after the US Aug housing starts and building permits reports fell more than expected.     

The dollar remains under pressure on expectations for the Fed to cut interest rates by -25 bp at today’s conclusion of the 2-day FOMC meeting.  Also, increased expectations for Fed easing through year-end are bearish for the dollar. 

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