The dollar after the morning decline is growing on Tuesday afternoon against the euro on the eve of the meeting of the Federal Reserve System (FRS) of the United States, following which, according to the consensus of experts, the refinancing rate will be raised again, according to trading data.
As of 13.01 Moscow time, the euro exchange rate against the dollar is falling to $1.0950 from the previous closing level of $1.0975, while in the morning the euro, on the contrary, rose in price to almost 1.01.
The dollar against the yen at the same time is reduced to 134.42 yen from 137.48 yen. And the dollar index (the exchange rate against a basket of currencies of six countries – US trading partners) increases by 0.11%, to 102.26 points.
The meeting of the American regulator will be held on May 2-3, following its results, the Fed will decide on the size of the discount rate. According to CME Group, more than 94% of analysts expect it to increase by 0.25 percentage points to 5.25%. An increase in the refinancing rate is positive for the respective currency.
In turn, the euro began to weaken after the release of macroeconomic statistics. Thus, earlier on Tuesday, Eurostat published a preliminary estimate that annual inflation in the euro area accelerated to 7% in April from 6.9% a month earlier.