Get 40% Off
🚀 AI-picked stocks soar in May. PRFT is +55%—in just 16 days! Don’t miss June’s top picks.Unlock full list

Forex - U.S. Dollar Falls as Investors Wait for Fed Decision

Published 12/18/2018, 10:24 AM
© Reuters.
- - The U.S. dollar was lower on Tuesday as investors waited for news from the Federal Reserve’s latest policy meeting.

The U.S. dollar index, which measures the greenback’s strength against a basket of six major currencies, fell 0.14% to 96.41 as of 10:23 AM ET (15:23 GMT), after an overnight high of 96.63.

With the Fed expected to increase rates by 25 basis points for the fourth time this year on Wednesday, investors will be watching for any new comments on possible policy changes in 2019.

Fed officials, including Fed Chairman Jerome Powell, have said interest rates are nearing neutral and have become more cautious about FOMC tightening policy amid worry of slowing global growth.

U.S. President Donald Trump has also criticized the Fed for raising rates and said Monday that “it was incredible” the central bank is “even considering yet another interest rate hike.”

The dollar was down against the safe-heaven Japanese yen, with USD/JPY slumping 0.3% to 112.51.

Meanwhile, the pound was higher, with GBP/USD up 0.35% to 1.2661. The euro was also pushed up by the lower dollar, with EUR/USD rising 0.2% to 1.1372.

Elsewhere, NZD/USD increased 0.8% to 0.6861 while AUD/USD inched up 0.3% to 0.7197. The Canadian dollar decreased with USD/CAD up 0.08% to 1.3417.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.