The US Dollar trades stable in a tight range on Monday.
Traders brace for a historic week ahead with the BoJ poised to snap its decade-long negative interest rate regime.
The US Dollar Index trades around the mid 103.00s and is expected to remain steady.
The US Dollar (USD) is having a zen moment on Monday before turmoil is set to pick up with the Bank of Japan (BoJ) rate decision on Tuesday and the US Federal Reserve rate decision on Wednesday. Both meetings will be crucial: The BoJ is set to leave decades of negative interest rate policy while trying not to disrupt markets, and the Fed will give clues over the interest-rate outlook after the recently hot inflation numbers made markets nervous.
Monday’s US economic calendar is light. For more pivotal data points, look at Thursday with the preliminary Purchasing Managers Index (PMI) data for March. Right at the end of the week no less than three Fed members, Fed Chairman Jerome Powell included, will deliver speeches and statements that could further guide markets in case the rate decision on Wednesday was not clear enough for markets.
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