Dollar steady at 5-month low ahead of Fed meeting

Currencies Direct March 19th 2014 - < 1 minute read

The dollar climbed against some of its major peers on Wednesday
(March 19th), but remained down near a five-month low versus a
basket of currencies before the Federal Reserve’s policy meeting

USD/JPY edged up to 101.55 but gains are likely to be held in
check ahead of the central bank’s announcement.

The dollar index, which measures the greenback’s strength
against a basket of currencies, was at 79.57, close to a level not
seen since last October.

Sterling advanced to pare back some recent losses, with the
exchange rate
up slightly at 1.6615.

The euro was down against the dollar by 0.1 per cent, but at
1.3918 EUR/USD remains near a two-and-a-half year high.

New Zealand’s dollar is another that was down slightly against
the greenback but close to an 11-month high at 86 cents, while the
Australian dollar was near a three-month peak at just above 91

The Fed is widely
expected to scale back its monthly asset purchase programme by
another $10 billion later today, though US economic data remains

Meanwhile, the UK Budget address is delivered by chancellor
George Osborne later and is likely to have an impact on

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