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Forex — Dollar Index Slips Lower with eyes on Fed decision — Forex Stock Trade

Forex — Dollar Index Slips Lower with eyes on Fed decision

© Reuters. Dollar edges lower vs. rivals ahead of FOMC decision — The dollar slipped lower against other major colleagues on Wednesday, as investors remained cautious before the Federal Reserve’s policy statement due later in the day and amid fresh geopolitical concerns.

EUR/USD added 0.12% to a one-week high of 1.2010.

The sentiment on the US currency remained fragile as investors on the results of the Fed’s monthly monetary policy meeting.

The U.S. Central Bank was widely expected to leave, to keep the interest rates, but it was also likely to announce plans to trim $4.2 trillion in bond holdings.

The safe-haven yen and Swiss franc, with USD/JPY down 0.21% at 111.35 and with USD/CHF shedding 0.24% to 0.9604.

Traders were also cautious amid potentially higher tensions between the US and North Korea following radical statements by US President Donald Trump.

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

Elsewhere, GBP/USD dipped 0.18% edged higher 1.3525, from Monday 15-month high of 1.3619.

The new Zealand dollar was stronger than NZD/USD 0.77% climbed to a six-week high of 0.7370, according to official data earlier showed that new Zealand’s current account surplus swung to a deficit of NZ$620,000 in the second quarter, a surplus of NZ$240,000 in the previous quarter.

Observers had expected a current account deficit of NZ$880,000 in the last quarter.

The US dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was down 0.12% 91.51 02:15 PM ET (06:15 GMT),the lowest since September 11.

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