The Dollar Elevated Cautious trading ahead of Fed Meets
The Dollar was slightly higher in early European trading Tuesday along with Asia, hang on to small gains amid a central bank meeting, advertize by the U.S. Federal Reserve’s two-day gathering that starts later in the day.
The U.S. Dollar Index inched up 0.05% to 91.882 against the basket of other currencies.
The USD/JPY pair slightly up 0.06% to 109.19. The Bank of Japan will start its two-day policy meeting a comprehensive policy review, on Thursday.
The AUD/USD pair was slightly Down 0.10% to 0.7747.
The NZD/USD pair inched down 0.03% to 0.7198.
The USD/CNY pair slightly up 0.05% to 6.5028.
The GBP/USD pair inched down 0.12% to 1.386.
The Fed anticipated making some changes to its ongoing monetary policy. Meanwhile, the investors are bothered about the continued rise in inflation, the global COVID-19 vaccine rollout, a hefty stimulus package in the U.S, and the hope for rapid global recovery from COVID-19.