The dollar is slightly stronger against the euro and the pound this morning ahead of the Federal Reserve’s latest monetary policy meeting this week.
The Fed’s meeting will conclude on Wednesday with the interest rate decision and press conference. Fed Chair, Jerome Powell, suggested earlier this month that the interest rate is likely to be raised from 0.25% to 0.5%. If the meeting reveals that this is the first of several rate hikes this year, then the dollar could benefit.
US retail sales will be released ahead of the FOMC meeting, expected to have dropped month-on-month in February.
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