The Federal Reserve is expected to reduce US interest rates on September 18. This is in response to the growing credit issues within the country, as well as a weakening job market. The rate cut should spark a global reaction. Domestically, it has already increased the US dollar. Reports Forbes:

There remains downside risk for the US dollar, but the worst appears to be over unless there are more shockwaves from global stock markets, GFT senior finance analyst Ian Copsey said.

Read more: US dollar steady as traders digest weak jobs data, Fed rate cut seen