Fed protocols put US dollar rate down

Baku. 23 November. REPORT.AZ/ Yesterday, in the last session protocols of the US Federal Reserve System (Fed) supported the increase in discount rate at meeting to be held on December 12-13. It was stated that inflation indicator struggling to increase.

Report informs, low level of inflation in protocols will hinder Fed to increase discount rate in 2018.

Following announcement of the protocols, US dollar began to decline in global currency market against most currencies.Thus, the rate of the main currency pair at yesterday's auctions increased from 1.1735 USD/EUR to 1.1825 USD/EUR, the pound rate up from 1.3215 USD/GBP to 1.3330 USD/GBP, while Japanese yen fell from 112,35 JPY/ USD to 111.15 JPY/USD.

Analytical Group of Report News Agency predicts, US dollar rate will be relatively inexpensive in 2018 and key currency pairs will move in the range of 1.14-1.21 USD/EUR. "Cheap dollars will stimulate the US economy and ensure high prices for raw materials that will eventually lead to inflation in the United States. And this will make it possible for Fed to increase its discount rate comfortably”.