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Dollar Near 2-Week High Before Fed Decision as Dovish ECB Supports


Wednesday, 19 June 2019 09:12 WIB

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The dollar held near a two-week high early on Wednesday ahead of the Federal Reserve’s closely-watched policy decision later in the day, supported by a surprisingly dovish European Central Bank and bearish eurozone economic data.

The dollar index versus a basket of six major currencies was steady at 97.615 after climbing to 97.766 on Tuesday, its highest level since June 3.

Focus was on whether the greenback can retain its strength after the Fed’s two-day policy meeting ends later on Wednesday.

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.

Source : CNBC


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