Di US Dollar don show say e get strong leg as e dey sit for monthly highs, while everybody dey wait for di two-day US Federal Reserve meeting wey go start today. Di market dey cautious, and traders no dey rush to put dia money for any direction until dem hear wetin Fed go talk.
Di dollar don benefit from di sell-off wey dey happen for di stock market as investors dey run find safe haven. Dis one make demand for di greenback increase, and e put pressure on oda assets like gold.
Gold wey dem call XAU/USD still dey drop, and now e dey near di $4,000 psychological level. Yesterday, e no fit hold above $4,100, and di way e dey go show say di path of least resistance dey to di downside because of di bullish US Dollar undertone.
For di European morning on Tuesday, di demand for US Dollar dey persistent, and e dey affect di gold price. Traders dey hesitate and dey wait for di outcome of di two-day FOMC policy meeting before dem take any big action.
