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20 Sept 2021
Dollar Slightly Rises as the U.S. Fed Meeting Nears
The Index Today
The USD was slightly up on Monday morning in Asia as markets closed and U.S Fed Reserve meeting closes in. The Dollar was up 0.06% to 93.282 by 11pm ET. USD: JPY went down slightly by 0.01% to 109.95.
Investors are eagerly waiting for the upcoming Feds meeting which may hold clues regarding the tapering timeline and interest rate decisions. Imre Speizer from Westpac analyst told reporters, “The dollar is having a bit of a rebound. Everyone is eyeing the Fed, waiting for a tapering signal.”
Central banks in U.K, Japan, Switzerland, Hungary, South Africa and other leading countries will be expected to also announce their policy decisions throughout the coming week.
The Canadian dollar has been seeing a decline ahead of the federal election where Prime Minister Justin Trudeau is expected to win. Voters in Germany are also expected to place their votes on the 26th of September.
Chinas slowing economy and Evergrande Group bond interest payment of $83.5 million due on Thursday has added more pressure to the Yuan.