US Dollar Trades Mixed Ahead of Fed Announcement

US dollar is trading mixed today, as Forex traders and analysts await the Fed announcement later today. There is a great deal of volatility in the markets today.

Greenback is trading mixed today as investors look forward to the Fed announcement scheduled for later in the afternoon Eastern time. Markets are choppy today, including stocks and commodities, in addition to currencies.

An unexpectedly large oil inventory of 11.4 million barrels is throwing the markets into confusion. This is the largest oil build in the United States in almost 20 years. Stocks are lower today, and trading is choppy, thanks in part to one economist’s assertion that the Federal Reserve should hike rates and let stocks fall, on top of the confusion over oil prices, which are falling again.

The dollar is mixed, gaining against the pound and yen, but falling against the euro. While there is some volatility in the markets, many are still waiting for the Fed announcement later.

At 15:10 GMT US dollar index is down, falling to 98.896 from the open at 99.075. EUR/USD is heading higher, moving up to 1.0887 from the open at 1.0859. GBP/USD is moving lower, dropping down to 1.4297 from the open at 1.4357. USD/JPY is moving higher, gaining ground to 118.5540 from the open at 118.4460.

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