The Dollar Elevated Cautious trading ahead of Fed Meets

The Dollar Elevated Cautious trading ahead of Fed Meets

The Dollar was slightly higher in early European trading Tuesday along with Asia, hang on to small gains amid a central bank meeting, advertize by the U.S. Federal Reserve’s two-day gathering that starts later in the day.

The U.S. Dollar Index inched up 0.05% to 91.882 against the basket of other currencies.

The USD/JPY pair slightly up 0.06% to 109.19. The Bank of Japan will start its two-day policy meeting a comprehensive policy review, on Thursday.

The AUD/USD pair was slightly Down 0.10% to 0.7747.
The NZD/USD pair inched down 0.03% to 0.7198.
The USD/CNY pair slightly up 0.05% to 6.5028.
The GBP/USD pair inched down 0.12% to 1.386.

The Fed anticipated making some changes to its ongoing monetary policy. Meanwhile, the investors are bothered about the continued rise in inflation, the global COVID-19 vaccine rollout, a hefty stimulus package in the U.S, and the hope for rapid global recovery from COVID-19.