The US dollar retained its slight advance Wednesday as investors anticipate the timing of the Federal Reserve’s interest rate hike.
Following the end of its two-day policy meeting, the US central bank will release its policy statement later in the day.
The greenback stood at $1.1065 from Monday’s $1.11295. Against the Japanese yen, the currency firmed at ¥123.57 from ¥123.01.
We await the Fed to steer away from indicating the timing of rate increase. “We still expect a hike in September,” said Tohru Sasaki, Head of Forex Research at JPMorgan Chase Bank.
Meanwhile, the US gross domestic product for the second quarter will be released Thursday.
The material has been provided by InstaForex Company – www.instaforex.com