Today, the US dollar has been advancing against the euro and the Japanese yen. The US dollar is also rising against other major currencies ahead of the US Fed's meeting.
Today, the US Fed is planning to finish its two-day meeting. Most analysts suppose that the Fed will announce better prospects of the US economy. Of course, the future of the US economy could be brighter amid the rollout of the vaccination program and a new stimulus package.
However, despite these facts, the regulator will hardly change the key interest rate (now it is at 0-0.25%) and the volume of the asset-purchasing program. Recently, Jerome Powell has been emphasizing the necessity to make significant progress in the economic recovery. He also suppose that it is better not to hurry to tighten the current ultra-loose policy. Some analysts suppose that the Fed will raise the key rate as early as 2023 that is earlier than expected.
Today in the morning, the euro showed an insignificant rise. However, later, it began falling against the US dollar amid all the current risks.
At the same time, the US dollar advanced against the Japanese yen by 0.19% to trade at 109.19.
The US dollar index, that measures the US dollar against the basket of six major currencies, inched up by 0.10% to 91.92 points.
