UOB analysts note the broad Dollar index DXY fell for a second day to 99.57 as traders positioned ahead of the Fed decision and reacted to geopolitical tensions around Iran.
UOB analysts note the broad Dollar index DXY fell for a second day to 99.57 as traders positioned ahead of the Fed decision and reacted to geopolitical tensions around Iran.
The NZD/USD pair strives to extend its recovery move above 0.5870 during the European trading session on Wednesday. The Kiwi trades higher as the US Dollar (USD) struggles to gain ground ahead of the Federal Reserve’s (Fed) monetary policy announcement at 18:00 GMT.
OCBC strategists Sim Moh Siong and Christopher Wong revise their Brent Oil profile higher as the US–Iran conflict keeps the Strait of Hormuz effectively shut and Oil flows near a standstill.
The Indian Rupee (INR) trades almost flat against the US Dollar (USD) at around 92.80 during India's afternoon trading hours on Wednesday. The USD/INR pair wobbles as investors shift to the sidelines ahead of the Federal Reserve’s (Fed) monetary policy announcement at 23:30 IST (18:00 GMT).
Deutsche Bank analysts highlight that Brent Oil remains above $100 but daily trading ranges have narrowed, signalling some easing in volatility.
Commerzbank’s Michael Pfister expects the Bank of Canada to leave rates unchanged, in line with Bloomberg consensus.
The Pound Sterling (GBP) extends its winning streak against the US Dollar (USD) for the third trading day on Wednesday.
The USD/CAD pair trades with mild gains around 1.3700 during the early European trading hours on Wednesday. Markets turn cautious ahead of critical interest rate decisions from both the Federal Reserve (Fed) and the Bank of Canada (BoC) later on Wednesday.
The AUD/USD pair trades 0.15% higher at around 0.7115 during the late Asian trading session on Wednesday.
The Indian Rupee (INR) opens almost flat against the US Dollar (USD) on Wednesday. The USD/INR pair wobbles around 92.80 as investors shift to the sidelines ahead of the Federal Reserve’s (Fed) monetary policy announcement at 23:30 IST (18:00 GMT).