Doha: The dollar remained stable on Wednesday in anticipation of the Federal Reserve’s meeting, which is set to decide on policy adjustments amid economic uncertainties. This stability in the U.S. currency occurs as significant investors from Asia continue to withdraw from U.S. assets.
According to Qatar News Agency, the South Korean won initially surged to a six-month peak at the opening on Wednesday, only to decrease by 1.5% later in the session. Meanwhile, the Chinese yuan experienced a depreciation following China’s announcement of a long-anticipated rate cut.
On the previous day, the dollar index showed minimal change after a 0.2% decline, marking its third consecutive drop. Concurrently, the euro saw a reduction of 0.2% to $1.1338, and the Japanese yen decreased by 0.4%, ending its streak of three days in gains.