The dollar remained strong against major rival currencies today ahead of the expected decision on US interest rates, to be issued by the Federal Reserve “US central bank” later in the day, while the yen continued to move near its ten-month low.
The dollar index, which measures the performance of the US currency against a basket of rival currencies, has mostly seen little change, settling at 105.17 points as traders await the Federal Reserve’s decision.
Markets are largely expecting the Fed to keep interest rates at 5.25 percent to 5.50 percent, putting the focus on the central bank’s future guidance.
The yen settled in the latest trading at 147.83 to the dollar, retreating from yesterday’s record low of 147.92 to the dollar, although it is hovering near a ten-month low against the US currency.
The yuan was largely unchanged in overseas trading after China confirmed market expectations by keeping key lending rates unchanged today, but the Chinese currency later fell 0.1 percent to 7.3103 to the dollar.
The Australian dollar fell almost 0.1 percent in the afternoon in Asia, while the New Zealand dollar stabilized after falling from a two-week high against the dollar yesterday, the euro reached 1.0679 dollars, while the pound sterling fell slightly to 1.2388 dollars.
As for cryptocurrencies, bitcoin is hovering around 27.137 dollars, retreating from yesterday’s three-week high.
