Sat, 01 Oct 2022

U.S. dollar edges down ahead of Fed meeting

20 Sep 2022, 05:55 GMT+10

NEW YORK, Sept. 19 (Xinhua) -- The U.S. dollar weakened slightly in late trading on Monday as market participants awaited a key meeting of the Federal Reserve.

The dollar index, which measures the greenback against six major peers, was down 0.03 percent to 109.7360.

In late New York trading, the euro was up to 1.0014 U.S. dollars from 1.0006 dollars in the previous session, and the British pound increased to 1.1420 U.S. dollars from 1.1411 dollars in the previous session. The Australian dollar increased to 0.6714 U.S. dollars from 0.6707 U.S. dollars.

The U.S. dollar bought 143.25 Japanese yen, higher than 142.98 Japanese yen of the previous session. The U.S. dollar increased to 0.9655 Swiss francs from 0.9648 Swiss francs, and it decreased to 1.3269 Canadian dollars from 1.3284 Canadian dollars.

The Fed is set to kick off its two-day policy monetary meeting on Tuesday, to be followed by a rate decision on Wednesday.

Markets are widely expecting another big rate hike from the U.S. central bank.

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