The US dollar has started sliding vs the majors today. Investors remain in the careful mode ahead of the US employment report to be published this Friday.
After a short-lived upturn, the American currency has resumed downward movement on the Federal Reserve's statement about confidence in high economic growth and faster inflation in the USA.
US Central Bank has announced its 2018 inflation outlook, which fueled expectations of a further increase in interest rate by the Federal Reserve under the leadership of Jerome Powell. The Federal Reserve expectedly maintained the interest rate yesterday. The decision came after ADP's report had shown increased employment rate (234,000 up). Notably, this was the last meeting under the leadership of Janet Yellen.
For now, the market is waiting for the non-farm payrolls to be announced at week's end.
The US Dollar index decreased to some 88.70.
The euro and sterling posted gains vs the US dollar to 1.2457 and 1.4232 respectively. The yen dropped with USD-JPY at 109.59, though franc showed slight rebound – USD-CHF at 0.9305. The AUD-USD and NZD-USD pairs were recorded at 0.8000 and 0.7353 respectively.
The USD to CAD rate rose to 1.2321.