The dollar reached a 6-day minimum to euro

The dollar fell to 6-day minimum against euro on the assumption that the U.S. Fed will wait a pause in terms of raising interest rates this year. According to the expectations of economists at tomorrow's FOMC decision will be taken to maintain the level of the federal funds rate close to zero value and continue the repurchase program of Treasury debt in the amount of 300 billion U.S. dollars. The market has already been laid in the price expectations of higher interest rates later in the year. Today's concerns about the fact that it does not, led to the devaluation of American currency. Now the futures market at the rate for federal funds only 42 per cent probability expects rate increase to 0.5% in December. A week ago, the market valued the event with a probability of 49 percent. Further support for the European currency had comments members of the Governing Council of the ECB Alex Weber, who said that Europe's central bank has exhausted the potential of reducing the refinancing rate, which was due to a dramatic deterioration in economic conditions and declining inflationary risk. In other words, he made it clear that the ECB will no longer see the need to reduce rates.