The US dollar struggled a little yesterday as data failed to enthuse investors ahead of today’s important decision from the Federal Open Market Committee (FOMC). The US currency was under a little pressure as the US core durable goods orders undershot predictions by a long way.
With this unable to provide some final encouragement to the FOMC to increase the level of their tapering of the quantitative easing as they did in December, the US dollar suffered some slight losses. These were made up for a little later on, however, as a Consumer Confidence figure beat its expectations, allowing a glimmer of hope for the currency.
Today’s decision from the FOMC is the only event of note, and investors will be looking ahead to the evening for this. As such, bets and speculation on this could rule the day’s trading.
Thinking of buying or selling US dollars? Call your trader now for the latest rates, on another important day for the long-term prospects of the currency.