Forex
Dollar Bides Time Ahead of Expected Fed Hike
The US dollar held steady near multi-week highs on September 16 ahead of a Federal Reserve decision that traders expect will mark the first in a series of possible U.S. interest rate hikes.
The dollar has advanced this week, along with yields and energy prices, gaining the most against the yen and the New Zealand dollar.
Market participants are betting heavily that Fed policymakers will lift their benchmark rate by a quarter of a percentage point, to a 3.75%-4% range, and signal further tightening ahead.