Dollar retreats ahead of US Federal Reserve decision

2019-06-19 18:28:08 GMT (Economies.com)
Dollar retreats ahead of US Federal Reserve decision

US Dollar fell against most major currencies on Wednesday as the global markets shifted their focus to the Federal Reserve reveal of its interest rate decision.

 

The US central bank will soon announce its interest rate decision, and analysts' expectations are for the bank to keep interest rates at 2.50% unchanged.

 

Federal Reserve Chairman, Jerome Powell, is scheduled to hold a press conference to comment on the latest developments in the US economy and monetary policy as well as global economic conditions.

 

The dollar was under the pressure of speculations that the US central bank will cut interest rates this year, perhaps more than once, to counter the slowing economic growth and the impacts of the US-China trade war.

 

US President Donald Trump said he will meet his Chinese counterpart Xi Jinping on the sidelines of the G20 summit in Japan later this month.

 

In terms of trading, by 17:38 GMT, the dollar index (against a number of major currencies) fell by 0.2% to 97.3 points, reaching a high of 97.6 points and a low of 97.3 points.

 
 
 
  Symbol Last Change Chg.%
1.1027
-0.0006
0.0548%
1.2593
-0.0044
0.3513%
17.564
0.034
0.193%
54.435
-0.378
0.689%
60.51
1.41
2.39%
1486.325
-0.860
0.058%
 
 
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