Federal Reserve (Fed) Bank of Philadelphia President Anna Paulson said that the rate cuts have ‘taken out some insurance’ against job market risks and that the current Fed policy, ‘somewhat restrictive,’ should moderate inflation at the Delaware State Chamber of Commerce, in Wilmington, on Friday.
The US Dollar Index (DXY) held its ground on Monday, trading above the 99.00 level during American hours as market participants await the Federal Reserve (Fed) interest rate decision and the release of a fresh Summary of Economic Projections (SEP).
The US Dollar Index (DXY), which gauges the Greenback’s value against six major currencies, trades flat around 99.45 during the early European trading session on Tuesday. The USD Index has turned sideways after bouncing back from the monthly low around 99.00, revisited on Monday.