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USD Near Two-Year Low Ahead of Fed Statement

M. Ali 29 July, 2020 8:27 pm Forex Market, Market Update

The US Dollar (USD) declined on Wednesday to its lowest level in about two years, as the Federal Reserve is expected to announce later today its monetary policy decision of maintaining interest rates near 0% for the foreseeable future.

The Dollar index (DXY), which measures the USD’s performance against a basket of major currencies, is down by 0.32% at 93.40, after closing Tuesday at 93.70.

The USD is down against the Euro (EUR) and the British Pound (GBP) by 0.48% and 0.36%, respectively.

Meanwhile, the USD settled against the Japanese Yen (JPY), down by 0.01%.

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