DXY: US dollar index retreats ahead of Fed interest rate decision

The US dollar index (DXY) is tilting higher as traders remain laser-focused on the US election and the potential for a gridlock in Washington. The index is also eying today’s Fed interest rate decision ahead of tomorrow’s nonfarm payroll numbers. Fed interest rate decision eyed The Federal Open Market Committee (FOMC) started its meeting yesterday as most market participants were focused about the election. The committee, which is led by Jerome Powell, will deliver its decision at 15:30 GMT. The meeting comes at a time when the country is headed to a gridlock. This is because Democrats will continue to