The dollar index DXY finishes in the red for the fourth month in a row

On Tuesday, the dollar exchange rate is growing slightly in pairs with the euro and the pound and is slightly declining against the Japanese yen. Market participants are waiting for the results of the meetings of the world's leading central banks – on Thursday, February 2, meetings of the European Central Bank and the Bank of England will be held. Analysts predict that both regulators will raise the rate by 50 basis points. 

The US Federal Reserve will hold its meeting a day earlier, on February 1. It is expected that the key rate will be raised weaker than at previous meetings – by only 25 bps.

This decision is supported by last week's statistics, which indicated an increase in the core consumer price index (Core PCE index, closely monitored by the Federal Reserve) by 4.4% in December compared with 4.7% in November. The growth rate was the lowest in fourteen months.

The calculated ICE index (DXY), which shows the dynamics of the US dollar relative to six currencies (euro, Swiss franc, yen, Canadian dollar, pound sterling and Swedish krona), practically does not change during morning trading. At the same time, the indicator is preparing to end with a decline for the fourth month in a row. The current index value is 102.135. 

The EUR/USD pair is trading at $1.0843 against $1.0852 at the close of the session on Monday, the euro is losing less than 0.1%.

The dollar/yen exchange rate decreased by 0.1% and is 130.31 yen compared to 130.45 yen the day before.

The pound sterling is slightly declining and is trading at $1.2342 against $1.2352 at the close of the last session.