Home » The Dollar’s Performance and the Role of the U.S. Federal Reserve: What to Expect

The Dollar’s Performance and the Role of the U.S. Federal Reserve: What to Expect

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The Dollar’s Performance and the Role of the U.S. Federal Reserve: What to Expect

The dollar opened the day this Thursday at $4,005.09, that is, $33 above the Representative Market Rate which for today stood at $3,989.55. During the first hours, the currency hit a minimum price of $4,000 and a maximum of $4,002.

Knowing where the dollar is going is especially difficult, because there are international and national factors that cause its price to rise or fall every day. In the last week, the dollar remained at levels close to $3,950 and $4,000. For this coming week, experts predict a currency in similar terrain.

It is also worth mentioning that a good part of the dollar’s performance is tied to the behavior of the economy that produces them, that is, the United States. In that context, it is important to keep in mind that there is only one week left until the meeting of the United States Federal Reserve (FED). This body is in charge of defining the direction of interest rates, or rather the cost of money, in that country. During 2023, the US dollar has been especially dependent on decisions made at the FED.

With just a few days to go until the future of interest rates in the United States is known, the market is waiting. On Friday, Jerome Powell, chairman of the Federal Reserve, was pessimistic about the possibility of lowering rates. “We are prepared to tighten the policy further if it is appropriate to do so,” Powell said. Currently, the United States has the most expensive borrowing costs in the last 22 years.

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