US Dollar Trading Steady as it Waits for Fed Meeting - Forex News by FX Market Leaders
US dollar index DXY

US Dollar Trading Steady as it Waits for Fed Meeting

Posted Wednesday, September 18, 2019 by
Arslan Butt • 1 min read

The US dollar is trading strong and steady against its other peers ahead of the Fed meeting scheduled for later today. At the time of writing, the US dollar index DXY is trading at around 98.29.

The forex market is expected to continue trading in narrow ranges until the Fed announces its decision. Markets have already priced in a 0.25% rate cut, but traders will be hesitant to enter new positions until they receive official confirmation after the meeting.

On Tuesday, the Fed injected over $53 billion into the financial system to boost lending, for the first time in over a decade. Corporate tax payments and Treasury settlements had caused a temporary shortage of cash in US money markets.

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About the author

Arslan Butt // Index & Commodity Analyst
Arslan Butt is our Lead Commodities and Indices Analyst. Arslan is a professional market analyst and day trader. He holds an MBA in Behavioral Finance and is working towards his Ph.D. Before joining FX Leaders Arslan served as a senior analyst in a major brokerage firm. Arslan is also an experienced instructor and public speaker.
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