Yahoo Finance Dollar Steady Ahead of Closely Watched Fed Decision
Investing.com - The U.S. dollar and the euro traded near flat on Wednesday amid expectations for more stimulus from the European Central Bank as investors turned their attention to the Federal Reserve's closely watched rate decision later in the day.
The U.S. dollar index that tracks the greenback against a basket of other currencies was steady at 97.172 by 11:51 PM ET (03:51 GMT).
The Fed is widely expected to stand pat on monetary policy this time but open the door for an interest rate cut at the next meeting in July.
The U.S. central bank is scheduled to release a statement at 1800 GMT, followed by a press conference by Chairman Jerome Powell shortly after.
On the Sino-U.S. trade front, Trump tweeted that he will meet Xi at the G-20 summit next week, adding that he had a “very good” phone conversation with Xi.
His tweets triggered a rally in financial markets, with Chinese stocks gaining about 2% this morning.
The USD/CNY pair inched up 0.1% to 6.9038.
The USD/JPY pair was little changed at 108.44. The Bank of Japan is widely expected to keep its stimulus unchanged in today’s meeting. Last week, BoJ Governor Haruhiko Kuroda told Bloomberg in an interview that no policy action is needed now, although the central bank still has room for big stimulus.
The AUD/USD pair and the NZD/USD pair both traded near flat.
The EUR/USD pair was also little changed at 1.1191.
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