Dollar holds with interest rate decision in focus

2020-09-16 18:51:43 GMT (Economies.com)
Dollar holds with interest rate decision in focus

The US dollar held steadily against most major currencies on Wednesday, as focus shifted to the Federal Reserve and the interest rate decision.

 

The US retail sales index rose 0.6% in August, its third straight monthly increase, but came lower than forecasts of 1.1%, vs. 0.9% in July.

 

The US Federal Reserve will announce its rate decision later today, which is widely expected to keep the rate near zero within its efforts to support the economy in the fight against the coronavirus crisis.

 

Fed Chairman Jerome Powell will hold a press conference following the decision to comment on monetary policy and the latest economic developments.

 

The Fed kept the interest rate unchanged near zero and pledged on taking all the necessary tools and measures until the economy recovers and returns to its growth path.

 

The dollar index held against a basket of currencies at 93.05 points as of 18:30 GMT, after it hit a high of 93.1 and a low of 92.7.

 
 
 
  Symbol Last Change Chg.%
1.1674
-0.0096
0.8186%
1.2759
-0.0070
0.5437%
Tadawul
8236.17
-26.43
0.32%
22.974
-3.032
11.659%
40.421
0.230
0.572%
41.94
0.00
0.00%
1866.270
-49.255
2.571%
 
 
Live Forex Updates