The US currency holds around a two-week high on Wednesday on the eve of an important release following a two-day Fed meeting at the end of the day, which is the focus of today's traders. The dollar is also supported by the dovish sentiment of the European regulator and the eurozone bearish economic data.
The dollar index remained stable versus a basket of six major currencies at 97.653 after rising on Tuesday to 97.766, its highest level since June 3.
Investors' attention is focused on whether the dollar will be able to maintain its strength after the conclusion of the two-day Fed meeting and comments on its results.
Forex platform > The Fed is expected to leave the interest rate unchanged this time but will open the door to lower it at the next meeting in July.
The prospect of lowering the US central bank rates also led to the fact that the yield on Treasury bonds reached almost two-year lows while raising stock prices.
The euro is trading at $ 1.1190, being near the session lows after falling 0.2% overnight, when it overcame the 15-day minimum of $ 1.1181.
The single currency fell along with a decline in the yield of German government bonds, which reached a new record minimum on Tuesday after ECB head Mario Draghi said that the bank would need to soften policy again if inflation does not return to its target level.
Fx trading > A carefully observed survey by the ZEW Institute showed that the mood among German investors deteriorated sharply in June, which also put pressure on the euro.
Traders are also focused on whether sentiment regarding risky assets and commodity currencies will improve as a result of upcoming trade negotiations at the G-20 summit between USA and China. The US President Donald Trump said on Tuesday that he will have an extended meeting with the Chinese leader at the G20 summit.
The two largest economies in the world are at the center of a costly trade dispute, which has put pressure on financial markets and caused damage to the global economy. Signs of a thaw between the two countries will stimulate the so-called “risk-free” trades, which, as a rule, lead to a fall in currencies such as the Japanese yen and the growth of the Australian dollar.
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