US Dollar Fell Before Fed Chair Statement

The US dollar declined against major currencies, as investors are waiting for the speech of the head of the Federal Reserve System Janet Yellen.

The dollar index (the dollar’s rate to the basket of currencies of six countries - the main US trading partners) fell by 0.18%, to 95.89 points. At the same time, the euro/dollar rate rose to the level of 1.1447. The dollar fell to 113.92 yen per dollar.

Speeches of the Fed Chair will be on Wednesday and Thursday. Market participants expect from Yellen comments on the future plans of the regulator on monetary policy. In June, the Fed raised the base interest rate to 1-1.25% per annum from 0.75-1%, and also announced plans to begin reducing the balance of assets in the current year.