We all watched as over the previous couple of weeks the United States were hit by natural disasters, which caused destruction worth tens of billions of dollars. The state has taken all possible means to eliminate the damage, which has undoubtedly affected the economic situation and has had an impact on the labor and real estate markets. This has forced the government to take drastic measures with regard to monetary policy.
On Tuesday, a two-day important meeting of the Federal Reserve began. Investors were waiting for the press conference of the committee on open markets, as well as a decision on a possible increase in the interest rate. Despite the fact that the interest rate was not changed, plans were announced for the further development of the economy. Moreover, the conference solidified expectations that the interest rate will be increased in December.
That is what led investors to once again believe in the dollar. The dollar strengthened against other currencies and made gold become cheaper. At the moment the euro to dollar rate has returned to the level of 1.19, and the pair pound dollar is trading near 1.35.
Despite the fact that our pairs have relatively slowed down their movement, gold continues to fall in price. After yesterday's press conference, the dollar index rose and at the moment is at the level of 92.21.
Against the backdrop of recent events, we expect a further strengthening of the US currency.
