US Dollar Index Slips as Traders Await FOMC and NFP

Posted Wednesday, May 1, 2019 by
Arslan Butt • 1 min read

Ahead of the FOMC statement and interest rate decision by the Federal Reserve, the US dollar index has slipped below a 23-month high. Traders are waiting for the FOMC today and NFP later this week before entering into bullish positions in [[DXY]].

Japan is off for a week-long holiday, while European banks remain closed in observance of Labour Day today. As a result, volatility in the markets is on the lower side.

Any significant change in this index can only be expected during the US session later today. For now, the DXY is trading at 97.44.

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