Palladium rises as dollar slips ahead of Fed rate decision

Palladium prices rose on Wednesday, as the US dollar slipped against its major peers, amid anticipation for the Federal Reserve’s decision later today.

The US Federal Reserve will announce its rate decision later today, which is widely expected to keep the rate near zero unchanged.

Otherwise, the World Trade Organization stated that the US tariffs imposed on Chinese goods violate global regulations and are not justified.

US President Donald Trump criticized the decision, and said that he would discuss with his team a response to the ruling in favor of China.

The dollar index fell against a basket of currencies by 0.1% to 92.9 points as of 14:51 GMT, after hitting a high of 93.1 and a low of 92.7.

Palladium December futures rose 0.2% to $2,149.3 an ounce as of 14:52 GMT, after hitting a high of $2,438 and a low of $2,377.7.