The Dow Jones Industrial Average (DJIA) shed 275 points at its lowest on Tuesday as investors buckle down ahead of the latest interest rate decision from the Federal Reserve (Fed).
US Dollar (USD) rose overnight but range remains confined to recent levels. DXY last at 98.28 levels, OCBC's FX analysts Frances Cheung and Christopher Wong note.
The Dollar is moving higher for the second consecutive day on Wednesday, but USD bulls are showing signs of hesitation –the large wicks in the 4-hour candle– as price action approaches a cluster of resistances between 98.65 and 98.85.The fundamental background remains favourable, with investors wary