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The fed’s meeting supported the movement of US Dollar

New York (Benchmark News)

New York-the exchange rate of the US dollar strengthened against most other major currencies on Tuesday(20/9/2016), as investors await the Federal Reserve report to be released on Wednesday.

The U.S. Central Bank has embarked on a two-day monetary policy meeting on Tuesday. Investors continued to monitor the Fed’s statement after the meeting on Wednesday to get more information about the rate of increase in interest rates.

Analysts said the grim economic data from those countries recently have increased speculation that the Fed will pass up the chance to raise rates in September, but a rise in interest rates in December, is still open.

On the economic side, the data is “housing starts” (new home built) in the U.S. are privately owned in August were at an annual rate adjusted seasonally 1.142 million units, failed to meet the consensus of the market, the Ministry of Commerce announced Tuesday.

The figure 5.8 percent below the revised July estimate of 1.212 million units, but the 0.9 percent above the level of August 2015 at 1.132 million units.

The dollar index, which measures the greenback against six major currencies, rose 0.16 percent to 95.998 in late trading.

In late New York trading, the euro fell to 1.1161 dollars from 1.1175 dollars at the previous session, and the United Kingdom pounds down to 1.2975 from 1.3030 u.s. dollars u.s. dollar. Australia dollars rose to 0.7550 dollars from 0.7547 dollars.

The dollar bought 101.83 yen, higher than Japan 101.79 yen in the previous session. The U.S. dollar slumped into Switzerland from 0.9800 francs 0.9790 francs in Switzerland, and a thin ride to 1.3213 dollars from 1.3191 dollars in Canada Canada. (Red)

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