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US dollar declines ahead of Fed decision

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New York, Sep 18 (IANS) The US dollar declined as investors awaited the US central bank’s next monetary move.

In late New York trading on Tuesday, the euro increased to $1.1066 from $1.1006 in the previous session, and the British pound rose to $1.2502 from $1.2424 in the previous session, Xinhua news agency reported.

The Australian dollar was down to $0.6860 from $0.6868.

The US dollar bought 108.20 Japanese yen, higher than 108.05 Japanese yen of the previous session. The US dollar rose to 0.9936 Swiss franc from 0.9923 Swiss franc, and it increased to 1.3251 Canadian dollars from 1.3240 Canadian dollars.

The Federal Reserve’s September monetary policy meeting kicked off on Tuesday and it will announce its latest decision on interest rate on Wednesday afternoon. Markets are betting high on further interest rate cut.

The dollar index, which measures the greenback against six major peers, was down 0.36 per cent at 98.2640 in late trading.



(This story has not been edited by Newsd staff and is auto-generated from a syndicated feed.)
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