The dollar index was little changed around 98.8 on Tuesday, as traders avoided making major moves ahead of the FOMC meeting, with the Federal Reserve widely expected to announce another 25-basis-point cut to the federal funds rate on Wednesday. Investors also looked ahead to Thursday's planned meeting between US President Trump and Chinese President Xi, where the two leaders are expected to discuss a potential trade deal following reports that officials have agreed on a preliminary framework covering rare earth minerals, soybean purchases, and TikTok. The dollar fell sharply against the...
AUD/USD firms as traders brace for Australia Q3 inflation data and Fed decision The Australian Dollar (AUD) edges higher against the US Dollar (USD) on Tuesday, extending its winning streak for the fifth consecutive session as the Greenback stays under pressure ahead of the Federal Reserve's (Fed) interest rate decision on Wednesday. At the time of writing, AUD/USD trades around 0.6586, up nearly 0.5% on the day and marking its highest level in over two weeks. Traders are turning their attention to key Australian inflation data due early Wednesday, which could shape expectations for the...