Dutch International: If the Fed maintains interest rates, the United States dollar will be affected by oil prices

On 29 July, the Netherlands International Group indicated that if the Federal Reserve maintained interest rates on Wednesdays, the United States dollar would be under pressure and would fall with oil prices. The United States dollar index, the fourth consecutive transaction date, was almost even, and it did not appear to have been affected by recent oil price fluctuations. On Wednesday, the 60-day rolling correlation between the United States dollar spot index and the Brent crude oil futures price fell to its lowest level since late March. The Dutch international strategist Francesco Pesole wrote: “This resilience will be sorely tested today. If the Federal Reserve maintains interest rates unchanged, it should trigger a pre-emptive position against the United States dollar, re-linking the dollar to a signal of a fall in oil prices.”