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Dollar Set For Weekly Gain Before Fed Meeting


Friday, 14 June 2019 08:39 WIB

DOLLAR


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The dollar held steady early in Asia on Friday, and was set ot show a weekly rise as investor focus turned to next week's Federal Reserve meeting for cues on a possible interest rate cut in light of rising risks to trade and global growth.

The dollar index against a basket of six rivals was basically unchanged at 97.001, and on track for a near 0.5% gain this week. The index had touched an 11-week low of 96.459 last Friday.

The Federal Open Market Committee's (FOMC) two-day policy meeting is set to begin on Tuesday. With trade tensions rising, U.S. growth slowing and hiring in May declining, markets have priced in at least two rate cuts by the end of 2019.

Source : Reuters


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