State of the Market: the US dollar remains under pressure

The US currency is trading with a slight correction at the opening of the day after a noticeable decline based on the results of the meeting of the US Federal Reserve.

As expected, the Fed raised key interest rates by 25 bp. to the level of 1.50%. Also, the Fed kept forecasts on GDP growth and tightening of monetary policy for the next year. The decline in the US currency was caused by the low expectations about inflation in the US due to slower growth in the number of jobs.

As a result, the US dollar index appreciably weakened, updating the minimum of the current week, limited to the support level of 93.200. After the meeting of the US Federal Reserve, market attention shifted to the meetings of the Central Bank of Switzerland, the United Kingdom and the euro area.

Graph of the US dollar index. The current price is 93.400.

Hanzenko Anton