The US dollar remained stable ahead of a news conference from Jerome Powell's new head on Wednesday (21/3). Where investors expect an interest rate hike will occur this month and will signal whether there will be an increase in interest rates three or four times this year.
The US dollar index, which measures the greenback's strength against a basket of six major currencies, was at 89.89 at 03:07 GMT, or decreased by 0.13%. The US dollar extended last year's decline in 2018, the US dollar likely to gain support when the FOMC meeting is expected to reaffirm its tightening monetary policy.
While the Fed is preparing to raise interest rates this week, most of Asia's central banks are unlikely to follow US steps. China and Japan see little reason for an interest rate hike, and the Reserve Bank of Australia (RBA) minutes indicate that the Central Bank of Australia does not intend to change its policy.
The USD / JPY pair decreased by 0.07% to 106.47. The greenback has weakened against the yen in 2018, despite expectations of an interest rate hike of three or even four times in the US. Includes a commitment to the ultra-loose monetary policy of the Bank of Japan (BoJ).
Deputy governor of the BoJ, Masayoshi Amamiya, got some attention on Wednesday when he said that the BoJ has not ruled out the possibility of adjusting the yield curve, when asked whether the BoJ can adjust the interest rate before inflation reaches the 2% target.
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