USD Rises Ahead of Fed’s Policy Statement

The U.S. Dollar (USD) rose on Wednesday, following the release of positive economic data that showed a rise in durable goods orders in December.

The rise of the USD also comes amid anticipation for the outcomes of the Federal Reserve policy meeting, which is expected maintain interest rates unchanged near record lows and the pace of asset-purchases in line with the Fed’s easing policy to help the American economy cope with the impact of the Coronavirus pandemic.

The Dollar Index (DXY), which measures the greenback’s performance against a basket of six major currencies, is up by about 0.50% at 90.61.

The index has been moving today in a range between 90.15 and 90.62, after closing Tuesday at 90.17, moving mostly in the positive territory.