US President Donald Trump yesterday made an attempt to exert pressure on the national regulator, which began its two-day meeting, urging the Fed's governing council not to “make another mistake” in anticipation of the expected increase in interest rates. This factor has increased the nervousness of investors and the pressure on the US currency.
The Federal Open Market Council is expected to raise interest rates for the 4th time this year, following its two-day meeting.
The Fed, which has been increasing rates since December 2015 - each time by 25 basis points - has pledged over time to bring them to a neutral level in order to prevent the economy from overheating. Many economists expect the regulator to continue tightening monetary policy next year, but at a slower pace.
Trump, who has made economic transformation one of the main aspects of his political program, systematically criticizes the Fed and its leader Jerome Powell.
USD remains under pressure. The EURUSD pair is increasing by a quarter percent, and its quotes are near $ 1.1375, the dollar index decreases by 0.2 percent, down to the mark 96.91.
Parallel to Friday, oil is becoming cheaper, and today Brent has reached a 14-month low, reaching $ 57.20, due to concerns about oversupply from shale oil producers in the United States.
Now the Brent barrel is trading near the $ 58.80 mark.
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