USD sees continuous rise with keen eye toward FOMC meeting, prolonging its third consecutive day of gains.
US economic outlook remains strong and investors await fresh economic forecasts from the FOMC.
Markets anticipate hawkish tone on Wednesday’s Fed decision.
On Tuesday, the US Dollar Index (DXY) saw an upward trend toward the 105.36 area. The session won’t provide any highlights as cannons are pointing to Wednesday’s session.
The two-day Federal Open Market Committee (FOMC) meeting, which kicked off on Tuesday and will end on Wednesday, is eyed by market observers. Any changes to the interest rate outlook or guidance by Federal Reserve (Fed) members are bound to stir market movements. The outcome of the famous dot plot will also be closely watched.
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