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Forex — Dollar Broadly Lower, With All Eyes On The Fed — Forex Stock Trade

Forex — Dollar Broadly Lower, With All Eyes On The Fed

© Reuters. The Dollar remains to the downside as the markets await the Fed decision — The dollar remained broadly lower Wednesday, as investors waited for the Federal Reserve’s expected monetary policy statement scheduled later in the day.

Later Wednesday, the U.S. central bank was widely expected to leave its interest rates, but it was also likely to announce plans to trim its $ 4.2 trillion in the portfolios of securities.

The refuge of the yen and the Swiss franc remained stronger, with USD/JPY down 0.25% to 111.32 and USD/CHF shedding 0.21% to 0.9607.

Traders were also cautious amid a potential rise in tensions between the UNITED states and North Korea continued to harden the statements of the AMERICAN President Donald Trump.

In his first speech before the United Nations General Assembly on Tuesday, Trump said, «the united States has great strength and patience, but if it is forced to defend itself and its allies, we have no choice, but to totally destroy North Korea.»

Elsewhere, the EUR/USD added 0.08% to 1.2004, while the pair GBP/USD has gained 0.22% to 1.3318, re-approaching Monday, the 15 month high of 1.3620.

The book has been strengthened after the united KINGDOM, Office for National Statistics reported Wednesday that retail sales blew past forecasts in August, an increase of 1.0%.

Sterling came under pressure after the Bank of England Governor Mark Carney said on Monday that «brexit» is going to weigh on the trade with foreign countries, and that the output of the EU was already limiting the potential size of the economy of the united KINGDOM.

However, Carney also said that interest rates are likely to increase in coming months”, reiterating what was said at the BoE’s most recent policy meeting and had already pushed the pound broadly higher.

The australian and New Zealand dollars pushed higher, with AUD/USD up 0.57% at 0.8056, and with NZD/USD advancing 0.77% to 0.7373.

Earlier Wednesday, Statistics New Zealand said the country’s current-account surplus swung into a deficit of NZ$620,000 in the second quarter, following a surplus of NZ$240 000 in the previous quarter.

Analysts forecast a current account deficit of NZ$880,000 in the last quarter.

During this time, the USD/CAD pair slumped 0.37%, to 1.2247.

The US dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was down 0.16% to 91.47 by 08:20 a.m. ET (12:20 GMT), the lowest rate since September 11.

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