Good news arrived on Wednesday for US currency traders and investors. Well, the dollar has a rise between hectic operations of the Forex market. This is because of the positive announcements from the Federal Reserve about the future of the US economy.
The United States economy continues in a turbulent environment. For this reason, the dollar has had to deal with a performance that keeps even the most expert in the market worried.
Well, although on Wednesday the news about the future of the dollar and its economy seem to be heading in a positive direction again, doubts will continue to persist.
The positive data of the FED allows a respite for the dollar
The Federal Reserve kept interest rates near zero (
Rates will be kept at lows until inflation is on track to “moderately exceed” the US central bank’s 2% inflation target.
Coupled with this, in the new economic projections, the Fed’s policy makers see that economic growth will drop 3.7% this year. An improvement over the 6.5% drop projected in June. This according to Reuters reports.
This good news allowed the dollar’s operations in the Forex market to recover. Because it is the first good news of a possible economic recovery.
Dollar price to date
At the time of writing, the dollar index points to 93.35, gaining 0.24%, having a rise in the Forex market, compared to a basket of currencies that had maintained a constant good performance.
It should be mentioned that the dollar is still far from fully regaining market confidence. As investors value the prospect that other regions and countries will see a faster economic recovery from the coronavirus than the US.
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