Dollar stands still ahead of Fed’s hints
On Tuesday, the greenback was almost unchanged against the Japanese yen as well as the common currency during Asia trade, because a great number of traders stood away from taking large positions given the lack of new incentives to prompt greenback buying.
The US dollar didn’t change a lot, trading at ¥109.29, compared to Monday’s result of ¥109.24 in New York. The euro traded at $1.1110 midday, compared to Monday’s outcome of $1.1220.
The WSJ Dollar Index, traditionally gauging the evergreen buck against six major currencies, soared 0,11%, trading at 87.60.
The biggest mover for the greenback is the uncertainty, whether the Fed will take action in the nearer future or not. Meanwhile, the Fed has already corrected low market expectations. However, most market participants still don’t know whether the major US bank is going to make the long-awaited big move or not.
There’s still some doubt that the number one US bank will take action considering the uncertainty as for the upcoming referendum on Great Britain’s membership in the EU.