The dollar extended gains against most major currencies after the Federal Reserve announced plans to raise rates and unwind its $4.2trn balance sheet last night.
Asian shares were fragile today amid US tensions with North Korea, another terror attack in Europe and violent clashes in Charlottesville, Virginia.
Investors are gearing up for a policy decision from the US Federal Reserve later today, and its likely interest rates will stay the same.
US Federal Reserve chair Janet Yellen has suggested the central bank will continue to gradually increase interest rates over the next few years.
Federal Reserve policymakers were split on the pace of future interest rate rises, according to the minutes of the Fed’s last policy meeting on June 13-14.
In a session that swung wildly from specific questions on interest rates to whether climate change is an environmental or economic issue, Federal Reserve chair Janet Yellen was questioned pretty thoroughly today by the Senate.
The US Federal Reserve (the Fed) and its chair Janet Yellen are waiting for more information about president Donald Trump’s economic plans, just like everyone else.