The United States Federal Reserve (Fed) begins its meeting this Tuesday monetary politics two days, in which he is expected to keep rates in the range between 5.25% and 5.5%, while launching a hawkish message.
Traders have recently trimmed bets on U.S. rate cuts. Fed this year amid better-than-expected US economic data and inflation persistent.
He dollar fell 0.02% to 105.67 against a basket of currencies pending the meeting of the Fedafter falling 0.25% in the previous session.
He euro fell 0.1%, to $1.0731, while the yuan Chinese fell 0.1% to 7.2477 units per dollar and has depreciated 2% against the greenback so far this year, despite support from the central bank.
He and in fell against the dollar on Tuesday, giving up some of its strong gains from the previous day, sparked by what is suspected to have been intervention by Japanese authorities.
The Japanese currency fell 0.35% to 156.90 units per dollar, but far from its 34-year low of 160.245 reached on Monday, when traders affirm that the yen buying intervention by Tokyo fueled a striking rally of almost six yen.
Among cryptocurrencies, the bitcoin fell 2% to $63,707.00.
Oil on the rise
He Petroleum rose since the conversations between Israel and Hamas offered hope of a ceasefire, although attacks continued Houthis in the Red Sea, while investors await the decision of the Fed about rates.
The futures of Brent crude oil for June, which expire during the day, rose 26 cents, or 0.3%, to $88.67 a barrel. The more active July contract was up 38 cents, or 0.4%, at $87.58.
The futures of West Texas Intermediate (WTI) rose 34 cents, or 0.4%, to $82.97 a barrel. The front-month contract for both benchmarks lost more than 1% on Monday.
The continued attacks by the Houthis Yemen against maritime traffic south of the Suez Canal have provided a floor for prices Petroleum and could lead to higher risk premiums if market players anticipate disruptions to crude oil supplies.
“The meeting of the Fed also boosts some short-term reserves,” said Yeap Jun Rong of IG. “If rates remain at high levels for longer, this could trigger a new rise in the rate.” dollarwhile posing some risks to the outlook for oil demand,” he added.
Source: Ambito
