Dollar in stable condition while waiting for big news
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Dollar in stable condition, high-beta currencies, benefits, forex, trading, trade

The US dollar index stabilized around 93.95 on Wednesday, after bouncing off recent lows against the euro, Japanese yen, and Swiss franc. Last Tuesday, the U.S. Dollar rose in a ranging state probably due to waiting for the news. The scheduled meeting is on the first week of November.

For now, it is possible that the dollar will be stable while waiting for news of the central bank meeting and economic data that could change the view on interest rates, inflation, and growth rates. This big news may be able to trigger a big rise or fall.

Based on sentiment showed that U.S. consumers. more optimistic about the economy than expected, the dollar index increase modestly and rose 0.1% to 93.9280.

The U.S. dollar mostly hovered around one point in the middle between a one-year high reached earlier this month and a month-long low hit early on Monday.

In summary, US Dollar may be bullish for the short term and maybe become weak against other currencies such as the British pound and Australian and New Zealand dollar after the data of central bank meetings are released.