Yesterday the US dollar was able to strengthen its position against its main competitors - the dollar index basket (USDX) closed the trading day at the mark of 97.10. On Wednesday late in the evening there were announced the US Federal Reserve meeting results.
Monetary authorities have once again confirmed the labor market progress and they also noted the real estate market growth. It was also pointed out that inflation expectations have not changed compared to the last assessment and it is necessary to wait for more positive macroeconomic data to start the monetary policy tightening phase. At first it upset the market, but ultimately the US currency was set to buy again and the US dollar has strengthened relative to all of its main competitors.
The FOMC also pointed out that the federal funds rate first increase can happen in September. Against this background, the pair EUR/USD had decreased by 0.51% by the end of the day, the pair GBP/USD had declined by 0.03% and the pair USD/JPY had increased by 0.30%.Publication source