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Dollar Index: Daily Analysis & Forecast Pattern

Daily Market Report

​The Federal Reserve’s upcoming meeting on Wednesday could cause volatility in the U.S. dollar, which has stayed fairly steady throughout this month, says George Pavel, general manager at Middle East in a note. The Fed is expected to keep interest rates unchanged, but comments by Chair Jerome Powell accompanying the decision “could fuel volatility and could affect traders’ expectations about the direction of monetary policy.” U.S. economic data are likely to continue to broadly support the currency, he adds. The DXY dollar index rises 0.2% to 106.286.

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