The slowdown in global growth, increasing volatility and instability of the financial markets and the uncertainty surrounding the British decision to leave the European Union no longer seem to affect the FED's decisions.
Despite disappoiting retail sales numbers the dollar was trading higher across most pairs on Tuesday as traders started to increase bets that the Federal Reserve might opt to begin raising rates this meeting. Yields on longer data US treasuries increased.
The US dollar was locked in directionless trade on Monday ahead of a crucial meeting of the Federal Reserve. This week’s two-day Fed meeting is the first one in nine years in which markets see a realistic chance that interest rates could actually be raised.