The Federal Reserve will deliver its interest rates decision at the end of its two-day meeting on Wednesday U.S. time. Market watchers say the meeting will yield few surprises and most expect no changes in the central bank’s policy this week.
Investors also awaited tax reform details expected later this week and President Donald Trump’s upcoming announcement regarding the next chair of the Fed.
The dollar was a touch firmer overnight ahead of the conclusion of the Fed’s meeting, with the dollar index trading at 94.552 at 6:48 a.m. HK/SIN. Against the yen, the U.S. currency rose to trade at 113.62, compared to Monday’s close of 113.16 yen.
Meanwhile, U.S. consumer confidence in October rose to its highest levels in nearly 17 years as consumers grew more upbeat after several hurricanes had influenced sentiment in September, a Conference Board survey showed on Monday.
Also in focus will be the Bank of England’s policy meeting on Thursday. Markets are awaiting what could be the central bank’s first interest rate hike in 10 years.
In the lead up to the meeting, the British pound traded at $1.3286 at 7:13 a.m. HK/SIN — near its highest levels in two weeks.
