Market dolar

IndonesiaSearch here ...

Home Market Money & Currency
The US Dollar Drops Than The Prospect Of The Fed Rate And The Trump Call Issue
02 May 2018 - 12:51 WIB, By: Renat Sofie Andriani
US dollar money. - Between
US dollar money. - Between
Bisnis.com, JAKARTA - The US dollar index was observed at its highest level in about four months in trading this afternoon, Wednesday (2/5/2018), ahead of the release of the Fed policy meeting meeting.
Nevertheless, the greenback's movement was limited to the issue that Special Advisor Robert Mueller could summon President Donald Trump to deliver his testimony regarding the alleged investigation of Russian interference in the 2016 US presidential election.
Based on Bloomberg data, the US dollar index that measures the strength of the US dollar exchange rate against a number of major currencies fell 0.073 points or 0.08% to 92.376 at 11:39 pm.
Earlier the dollar index opened with a rise of 0.034 points or 0.04% at the level of 92.483. On Tuesday, the index ended up 0.66% or 0.608 points at 92.449, having touched 92.57, its strongest level since January 10.
Although the Federal Reserve is expected to keep its benchmark interest rate at its policy meeting that expires later today, the US central bank is likely to raise borrowing costs in next month's policy meeting.
Investors are waiting for signs of whether policymakers will raise interest rates three times this year. In addition to the Federal Open Market Committee (FOMC) decision, employment data (nonfarm payroll) and US unemployment benefit claims are also expected this week.
"The hawkish-tipped [The Fed] statement and the optimistic labor market situation can keep the upside trend of the dollar in the short term," said Jingyi Pan, market strategist at IG Asia Pte.
"[But] the possibility of summoning President Trump follows the expected challenge coming from the US-China meeting destabilizing the rally. Still, bullish expectations [of the dollar] are widespread, "Pan added, as quoted by Bloomberg.
A number of US officials, including Finance Minister Steven Mnuchin, are scheduled to visit China this week to discuss trade issues.
The position of the US dollar index
2/5/2018
(P. 11.39 WIB)
92,376
(-0.08%)
1/5/2018
92,449
(+ 0.66%)
30/4/2018
91.841
(+ 0.33%)
27/4/2018
91,542
(-0.02%)
26/4/2018
91,561
(+ 0.43