The Fed announced that the target range of the federal funds rate was maintained at 1.5% to 1.75% after the end of the monetary policy regular meeting that day, in line with market expectations. As of late in New York, the U.S. dollar index for the six major currencies fell by 0.15% to 92.314.
The lower US dollar has enhanced the attractiveness of the dollar-denominated oil investment and supported the rise in international oil prices.
By the end of the day, New York Mercantile Exchange , the future price of light crude oil delivering in June rose by $0.68 and closed at $67.93 a barrel with an increase of 1.01%. the future price of London Brent crude oil delivering in July rose by $0.23 and closed at $73.36 a barrel with a increase of 0.31%.
We're Here to Help