USD Steadies and Struggles for Direction Ahead of Fed Meeting

The U.S. Dollar (USD) steadied on Tuesday, fluctuating within a tight range in the absence of major market-moving updates ahead of the release of the Federal Reserve policy statement tomorrow.

Investors are anticipating the outcomes of the Fed meeting looking for signals about the outlook for inflation and interest rates in the United States.

Today, Treasury bond yields slightly declined with the benchmark 10-year bond yield at 1.589%.

The Dollar Index (DXY), which measures the greenback’s performance against a basket of six major international currencies, is up by 0.06% at 91.89. The index has been moving in a small range between 91.68 and 92.03.