Other Markets - Foreign Exchange
US Dollar marches ahead of FOMC As on : 30-Jul-24  13:26

The US dollar is marching forward on Tuesday with all eyes on upcoming Federal Reserve's monetary policy meeting for any indications of a potential rate cut in September. Cooling inflation levels in June and rising unemployment levels are probably giving the Fed necessary conditions for a rate cut. The dollar index is trading firm around104.40 levels while US benchmark 10-year treasury yields liger around 4.18%. Moreover, major focus will be on non-farm payrolls this week. Among basket currencies, EURUSD and GBPUSD are quoting at $1.0849 and $1.2860 respectively.

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