- FxPremere.com Forex – Dollar Flat as Slump in Sterling Limits drops –
FxPremiere.com – The U.S dollar was flat against its rivals Monday as a wobble in sterling helped offset losses and data showing the U.S. housing market continued to stutter.
The U.S. dollar index, which measures the greenback vs a trade-weighted basket of six currencies, fell by 0.06% to 96.09.
The National Association of Homebuilders’ Housing Market Index showed a reading of 69 for March 2019, unchanged last month. FxPremiere Fore Signals sends out daily Forex Signals for US
The data comes ahead of the Federal Reserve Open Market Committee’s two-day meeting that begins Tuesday. The central bank is expected Wednesday to stand pat on interest rates and reiterate the need to be patient on monetary policy tightening.
As we see that Mr Mikael Olai Milhøj, analyst at Danske Bank, points out Brexit remains the key driver of the pound. They expect uncertainty to keep the currency undervalued and volatile, awaiting some clarification.
“Brexit remains the key driver for GBP and we expect uncertainty to keep GBP undervalued and volatile until we get some clarification.”
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