FOREX-Dollar firm as markets wary over rising MidEast tensions, wait for Fed [Reuters]
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Source: Reuters
FOREX-Dollar firm as markets wary over rising MidEast tensions, wait for Fed - Reuters 3 Min Read * Graphic: World FX rates in 2019 tmsnrt.rs/2egbfVh By Saikat Chatterjee LONDON, Sept 17 (Reuters) - The dollar stood tall against other major currencies on Tuesday as geopolitical risks encouraged investors to flock to the relative safe-appeal of the greenback before a U.S. central bank policy meeting this week, where a rate cut is widely expected. Though oil prices pulled back slightly after surging to four-month highs on Monday, they remained about 15% higher than Friday’s close as markets remain wary over the threat of a military response to attacks on Saudi Arabian crude oil facilities. “The dollar is in demand as risk sentiment remains weak and it will be difficult for the Fed to overcome already dovish market expectations,” said Manuel Oliveri, an FX strategist at Credit Agricole in London. Traders widely expect the Fed will cut interest rates by a quarter of a percentage point on
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