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Dollar in Demand; Sterling Could Be Volatile
Thursday, 30 January 2020 16:18 WIB | CURRENCIES |Dolar ASPoundsterling

The U.S. dollar remains in demand Thursday, after the Federal Reserve did nothing to signal any near-term easing of policy despite issuing a statement that was seen as slightly less confident about the economic outlook.

However, sterling could be the currency to keep an eye on in early trading in Europe, as the Bank of England meets to decide on its monetary policy.

At 03:00 ET (0800 GMT), the US Dollar Index Futures, which tracks the greenback against a basket of other currencies, pushed up 0.1% to 97.895, trading near a two-month high.

The greenback is the best performing currency among G10 currencies in January, with the dollar index rising 1.6% so far this month. Commodity currencies such as the loonie and Aussie have suffered most, due to fears for Chinese growth amidst a spreading coronavirus outbreak.

Elsewhere, sterling could be volatile Thursday, with a degree of uncertainty surrounding the meeting of the Bank of England™s Monetary Policy Committee.

At 03:00 AM ET (0800 GMT), GBP/USD traded at 0.2% lower at 1.3001, and EUR/GBP 0.2% higher at 0.8468.

Source: Investing.com

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