Forex

U.S. Dollar Inches Up as Fed Decision, Trade, Weigh By Investing.com

© Reuters.

Investing.com – The dollar made some gains on Thursday, after falling to near a three-week low Wednesday as the Federal Reserve put further monetary policy tightening on ice.

The Fed left interest rates on hold at its meeting on Wednesday, citing uncertainty over the global economic outlook. It also softened its stance on reducing the size of its balance sheet.

The , which measures the greenback’s strength against a basket of six major currencies, rose 0.06% to 95.08 as of 10:26 AM ET (15:26 GMT).

Trade tensions also weighed, as investors waited for news of developments in trade talks between the U.S. and China. U.S. President Donald Trump is expected to meet with Chinese Vice Premier Liu He in the Oval office later in the day but no deal is expected before Trump meets with Chinese President Xi Jinping.

Meanwhile the number of people who filed for unemployment assistance in the U.S. posted its sharpest rise since September 2017, raising concerns over the health of the economy. Still, the number reflects a sharp increase due to the government shutdown earlier in the month.

The dollar was weaker against the safe-haven yen, with losing 0.26% to trade at 108.72.

Elsewhere, the euro dipped with flat at 1.1476 as news that Italy is in a recession spooked investors. The pound was down with falling 0.08% to 1.3104 as the Brexit drama grinds towards a climax.

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Source

neallesh@yahoo.co.uk

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