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The U.S. Dollar (USD) is on a downwards trend ahead of the release of the Federal Reserve policy statement, as the Federal Open Market Committee (FOMC) meeting concludes.
The Dollar Index (DXY) that measures the greenback against a basket of six major international currencies remains in the positive territory but has moved downwards since earlier trades in the American session.
The index has erased nearly all of its gains, reaching 92.467, up by 0.04%, after hitting a daily high of 92.7230, while its lowest was at 92.401.
It is expected that the Fed will reveal more details on its plan to eventually begin tapering asset purchases, as well as the central bank’s view on the impact of the coronavirus Delta variant spread on economic recovery.
