US dollar maintains positions amid softer tensions in oil market

Posted 18 September, 2019

The US dollar has been gaining grounds vs the majors in the middle of the week on softer tensions in the oil market, though the market players remain careful expecting the US Fed meeting.

According to the market data, the US Dollar index increased to 98.295.

The euro-to-US dollar exchange rate decreased to $1.1054 ($1.1073 earlier).

The pound sterling weakened against the greenback to $1.2472 ($1.2492 earlier).

The US dollar somewhat improved in the pair with the Japanese yen. The rate reached 108.20.

The market is focused on a 2-day meeting of the US Federal Reserve. It is expected that the officials can decide to reduce the interest rate by 0.25% to 1.75-2% per annum.

In Japan, the Central Bank will finish the meeting tomorrow. However, the market analysts mostly agree that BOJ is unlikely to change its monetary policy.

Meantime in the oil market, benchmark prices keep sliding following the previous reports of Saudi officials that the kingdom would maintain oil supplies using its reserves if needed.

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