Dollar Declines

Dollar slides as the Federal Reserve’s rate outcome comes closer.

The USD index  measures the strength of the dollar versus the other major currencies. It was down .20% to 93.64 as of 10:34 AM EST on Wednesday. This is due to the Federal Reserve being widely expected to raise interest rates for the second time this year later in the day.

EUR/USD was also up .27% to 1.1777 on the day. USD/MXN and USD/CAD are down .26% and .30% respectively. These also show evidence of the dollar’s decline today.