Both the Bank of Canada (BoC) and the Federal Reserve (the Fed) kept their respective policy rates yesterday. As things stand, the United States has one of the highest policy rates in the developed world, illustrated in the chart below. The Fed’s Rate policy is decided by committee. US Dollar Index (DXY) – 1 YearSource: FactSet, Turner InvestmentsLooks ominous right? US Dollar Index (DXY) – 10 YearSource: FactSet, Turner InvestmentsIn reality, the US Dollar Index sits near the middle of its longer term trading range.