Dollar down against the Euro Ahead of the Fed’s Upcoming Meeting Today

At 12:15 Beirut time, the Euro was quoted at €/$ 1.0871, the equivalent of €/LBP 1,638.80, appreciating by 0.02% against the US Dollar.

Despite consumer sentiment reaching a three-month high in the US , no increase was registered by the dollar today. The markets are however awaiting the minutes of the next Federal Open Market Committee’s meeting today. A dovish statement by the Fed is likely to subdue the dollar against the euro.

Locally, the Lebanese Pound steadied against the Dollar moving in the range of $/LP 1,510.5-1,514.5 with a mid-price of $/LP 1,512.5.

Compared to the pool of currencies of Lebanon’s major trading partners, the purchasing power of the Lebanese Pound decreased as reflected by the NEER, published by BLOMINVEST, which registered a 0.18% downtick to 169.43 points today.






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