US dollar weaker depressed by trade war fears, Federal Reserve results

Posted 22 March, 2018

The US dollar has touched a month bottom vs the majors on Thursday given the results of the Federal Reserve meeting. The regulator expectedly raised the interest rate, though the officials stated two more revisions this year. Besides, the market is still depressed by the fears of a trade war.

This morning the US Dollar index decreased to some 89.06, which is considered to be the lowest level since the second half of February.

Federal Reserve has not changed its outlook for three revisions of the interest rate which was made back in December. At the same time, they have commented that somewhat faster lift is possible coming years in order to prevent the economy from overheating.

Meanwhile, the market found such moves somewhat less bullish that insiders expected, especially taking into account that some of them had anticipated four increases in total for this year.

The trade war issue remains on the table and keeps pressing on the greenback.

As it was reported earlier, the market expected Donald Trump to announce more details about new import tariffs on Chinese products this week. For reference, Washington has already launched duties on imports of steel and aluminum.

In this situation, many insiders believe that trade partners of the USA can take similar countermeasures and this scenario definitely create a threat to the global upturn.

The European currency hiked vs the greenback to 1.2379 over the period under review. The US dollar to yen rate posted further weakening coming to some 105.7. The sterling remains on the upward track hitting 1.4168 amid the support of the positive labor reports in the UK.

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22 March, 2018 15:00

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