Dollar slips as focus shifts to US Fed meeting

US dollar fell today after the markets absorbed the ECB decision while the focus shifted to the upcoming Federal Reserve meeting which will start next week.

The European Central Bank (ECB) announced yesterday a rate cut by 10bp to -0.5% and launched a bond-buying program worth 20 billion euros per month (about $22 billion).

These decisions triggered President Trump to renew his criticism of the US Fed, while odds are for the bank to cut the rate for the second time this year in its upcoming meeting next week.

Otherwise, the markets are also anticipating the latest round of the US-China trade talks in next month, with increased hopes after mutual positive measures between the two countries.

As of 17:46 GMT, the dollar index fell against a basket of currencies by 0.1% to 98.2 points, with a high of 98.4 and a low of 98.0.