The dollar index is attempting recovery from a two and half month low in early Asian trades on Wednesday ahead of Federal Reserves decision due later today. Alongside, Powells speech and Summary of Economic Projections (SEP) or dot-plot, will also be watched for signs about the US interest rate path. Meanwhile, date yesterday showed US retail sales climbed by 0.6 percent in August, matching an upwardly revised increase in July. Meanwhile, the Fed said industrial production crept up by 0.1 percent in August after falling by a downwardly revised 0.4 percent in July. The NAHB/Wells Fargo Housing Market Index came in at 32 in September, unchanged from August. The dollar index that measures the greenback against a basket of currencies is quoting at 96.36, up 0.12% on the day. Among basket currencies, EUR/USD is hovering around a four month high near $1.12 mark.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
