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The dollar was slightly weaker ahead of a Federal Reserve meeting widely expected to deliver a rate hike. Investors had already priced in two more hikes this year and some in 2019, and the dollar had fallen 3.1% against a basket of currencies since mid-August.
The dollar index traded near 94.12.
With the hike fully priced in, the dollar's direction hinges on Fed guidance and dot-plot changes, which can move the USD and therefore dollar-denominated feed commodity prices. Little immediate directional pressure is evident.
cnbc.comReutersSep 25, 2018After 359 past neutral macro events, DXY moved a median -0.0% over 5 sessions (49% higher; middle half -0.4% to +0.4%), and -0.1% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
