US dollar posts gains on upcoming US Federal Reserve decision

Posted 01 August, 2018

The US dollar strengthened at the Asian trading in the middle of the week driven by upcoming results of the US Federal Reserve meeting.

According to the reports, the majority of experts believe that the Central Bank is unlikely to revise the rate this time. In addition, the players are also concerned about the rumours that Donald Trump's advisors are considering a launch of higher duties on Chinese products worth $200 billion (up to 25% instead of 10%).

Meanwhile, with the US Federal Reserve outlook, the interest rate can be revised two more times this year. As a result, there will be three revisions left after the August meeting, while the Bank will probably attempt to assure insiders that further increase is inevitable.

The US Federal Reserve will announce its decision on Wednesday. Notable, Jerome Powell will not hold a traditional press conference after the meeting. In such way, the chairman usually explains the steps made by the regulator.

The ICE US Dollar index gained 0.14%. 

The euro decreased against the US dollar to some $1.1686 ($1.1691 yesterday). The greenback raised further against the Japanese yen reaching 112.09 (111.86). The euro also moved up vs the yen to some 130.90 (130.79).

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