US dollar slackens vs majors, market awaits US Fed meeting

Posted 19 March, 2019

The US dollar is losing grounds at the Asian trading today given upcoming the US Federal Reserve meeting along with fears of slower economic growth in the USA. The players remain focused on the Brexit.

On Tuesday, the US Dollar index decreased to 95.840.

The euro-to-US dollar exchange rate improved to some $1.1357. The previous session was closed near $1.1337. The Japanese currency gained some 0.2% with the US dollar-to-yen rate sliding to 111.30 (111.43 earlier).

Speaking about the pound sterling, the British currency slightly progressed vs the greenback today. The exchange rate was at $1.3276. ($1.3255 earlier). 

At present, the market participants are mainly expecting that the US Federal Reserve will remain flexible and maintain the interest rate unchanged during the upcoming 2-day meeting Meanwhile, a market analyst commented that about a quarter of the market is waiting for the lower rate this year.

As a result, the future of the sterling can be determined by the last try by Theresa May to win her variant of the Brexit deal. At the same time, the greenback is taking a defensive position in view of the Central Bank's meeting.

Theresa May probably targets the third voting on hearing a draft of the agreement, as the market experts noted. Moreover, she is unlikely to launch voting if the failure is obvious.

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19 March, 2019 13:39

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