Dollar Hovers After A Dip Ahead Of Tuesdays Fed Meeting – 18 March, 2019

The dollar dipped 0.1 percent against a basket of six major currencies to 96.43, just above a two week low, weighed down by growing concerns over slower economic growth as well as the possibility of a more accommodative policy brought on by the Federal Reserve. A meeting on Tuesday will determine the future of interest rates. After hitting a three month high of 97.710 during the first week of March, the index has shed 1.3 percent. The yen rose 0.2 percent to 111.20 yen per dollar, gaining for a third straight session. Sterling advanced to $1.3274 with news that Prime Minister Theresa May would have to submit a new Brexit proposal. The euro rose to $1.1344.