19th March 2014
The US dollar index continues to trade around four-and-a-half month lows in forex trading markets today (March 19th), ahead of the Federal Reserve's policy announcement due later in the session.
Following the first monthly policy meeting chaired by the central bank's new governor Janet Yellen, the Fed is expected to reduce its quantitative easing programme by a further $10 billion per month.
In addition, policymakers are expected to express that recent weak economic data reports out of the country have been a result of the severe winter weather.
The dollar index monitors the greenback's progress against a basket of six other major currencies and traded just above last week's 79.37 low in early trading.
Generally, forex market sentiment has been generally supported, with traders encouraged by comments from Russian president Vladimir Putin yesterday.
He said the country is not attempting to partition Ukraine, easing geopolitical tensions in the region. This comes after a referendum in Crimea saw more than 90 per cent of voters opt to join with Russia.
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