XAG/USD: The USD is Declining Against Safe-Haven Currencies

Amid the decline in the USD against gold and the Yen last week was caused by uncertainty in the economic and financial situation in the world, the price of silver went up as well. The minutes of the Fed meeting in March released last week, showed that majority of the FOMC representatives were against the rise in the Interest Rate in April. Although, Fed executives go not have general opinion on this issue.

Most of the market participants do not expect that the US Fed will increase interest Rate in April. Next meeting devoted to monetary policy will be held in June.

Earlier in March US Fed left interest rate unchanged at the level of 0.5% and downgraded forecast of the future increase of interest rate. It is planned that in 2016 the rate will be raised twice up to 0.875% instead of previously planned 4 times increase.