U.S. dollar edges up amid Fed meeting
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E-mail Xinhua, June 19, 2019
NEW YORK, June 18 (Xinhua) -- The U.S. dollar strengthened modestly against its major rivals in late trading on Tuesday amid the Federal Reserve's monetary policy meeting.
The Federal Open Market Committee (FOMC), the U.S. central bank's policy-setting panel, began its two-day meeting on Tuesday.
Market participants are waiting for the FOMC's decision and economic projections, set to be announced Wednesday afternoon. Investors will look for clues about potential rate cuts later this year.
As of Tuesday afternoon, traders were pricing in a probability of 24.2 percent on a rate cut in June, while the bet on monetary easing at FOMC's next meeting in July was more than 85 percent, according to the CME Group's FedWatch tool.
The dollar index, which measures the greenback against six major peers, was up 0.08 percent at 97.6414 in late trading.
In late New York trading, the euro was down to 1.1194 U.S. dollars from 1.1217 dollars in the previous session, and the British pound increased to 1.2560 dollars from 1.2537 dollars in the previous session. The Australian dollar was up to 0.6874 dollar from 0.6851 dollar.
The U.S. dollar bought 108.44 Japanese yen, lower than 108.57 Japanese yen of the previous session. The U.S. dollar increased to 1.0000 Swiss franc from 0.9987 Swiss franc, and it was down to 1.3382 Canadian dollars from 1.3415 Canadian dollars. Enditem
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