Dollar Eased Before Fed Decision. The dollar index, which measures the greenback against a basket of currencies was down 0.1 percent at 91.924 on Tuesday while investors await Fed policy decision.
BOC Policymaker Lane Highlights CAD Strength. The Loonie pulled back from its recent rally when BOC policymaker Lane gave his testimony during the start of what would likely be a monetary policy-focused week.
Yen Gave Up Ground on Improving Risk Sentiment. The Japanese Yen’s recent selloff came to a halt in ahead of the BOJ decision, as investors decide to wait and see if the central bank would follow through on what many analysts believe will be an aggressively loose monetary policy or if they will disappoint yet again. Dollar eased 0.1 percent versus the yen after marking its highest since July 27 overnight.
Pound Pulled Back After Carney’s Speech. Pound pairs were already jittery in the hours leading up to BOE head Carney’s testimony as market participants were probably expecting him to temper the currency’s strong rally. He didn’t really say anything downbeat but traders didn’t seem so impressed by his rationale for hiking rates.
Gold Higher Ahead of Fed Meeting. Gold on Tuesday inched up from its lowest in over two weeks as the dollar shed some of its gains from the previous session, with market focus on a two-day Federal Reserve meeting that kicks off later in the day.
Watch Out Today For:
02:30 am GMT: AUD RBA Meeting Minutes
By MEX Group Team
The post Central Bankers Force GBP and CAD to Retreat. Focus on Fed’s Sept 19-20 Policy Meeting 19-9-2017 appeared first on mexgroupblog.