Get 40% Off
🤯 This Tech Portfolio is up 29% YTD! Join Now to Get April’s Top PicksGet The Picks – Just 99 USD

Forex - Dollar Index Slips Lower with Eyes on Fed Decision

Published 20/09/2017, 07:19
Updated 20/09/2017, 07:21
© Reuters.  Dollar edges lower vs. rivals ahead of FOMC decision

© Reuters. Dollar edges lower vs. rivals ahead of FOMC decision

Investing.com - The dollar slipped lower against other major counterparts on Wednesday, as investors remained cautious ahead of the Federal Reserve's policy statement due later in the day and amid fresh geopolitical concerns.

EUR/USD added 0.12% to a one-week high of 1.2010.

Sentiment on the greenback remained fragile as investors awaited the outcome of the Fed's monthly policy meeting.

The U.S. central bank was widely expected to leave interest rates on hold, but it was also likely to announce plans to trim its $4.2 trillion in bond holdings.

The safe-haven yen and Swiss franc, with USD/JPY down 0.21% at 111.35 and with USD/CHF shedding 0.24% to 0.9604.

Traders were also cautious amid potentially higher tensions between the U.S. and North Korea following hawkish statements from U.S. President Donald Trump.

In his first speech before the United Nations General Assembly on Tuesday, Trump said "the United States has great strength and patience, but if it is forced to defend itself and its allies, we will have no choice but to totally destroy North Korea."

Elsewhere, GBP/USD edged 0.18% higher to 1.3525, off Monday's 15-month peak of 1.3619.

The New Zealand dollar was stronger, as NZD/USD climbed 0.77% to a six-week high of 0.7370 after official data earlier showed that New Zealand's current account surplus swung into a deficit of NZ$620,000 in the second quarter from a surplus of NZ$240,000 in the previous quarter.

Analysts were expected a current account deficit of NZ$880,000 in the last quarter.

The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was down 0.12% at 91.51 by 02:15 a.m. ET (06:15 GMT),the lowest since September 11.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.