US Biz

U.S. dollar edges down ahead of Fed decision 2023/3/22 source: hit: 29 Print

NEW YORK, March 21 (Xinhua) -- The U.S. dollar fell slightly in late trading on Tuesday as market participants awaited a key decision by the Federal Reserve.

The dollar index, which measures the greenback against six major peers, decreased 0.02 percent to 103.2616.

In late New York trading, the euro increased to 1.0764 U.S. dollars from 1.0723 dollars in the previous session, and the British pound fell to 1.2216 U.S. dollars from 1.2280 dollars in the previous session.

The U.S. dollar bought 132.51 Japanese yen, higher than 131.32 Japanese yen of the previous session. The U.S. dollar fell to 0.9226 Swiss francs from 0.9283 Swiss francs, and it rose to 1.3716 Canadian dollars from 1.3660 Canadian dollars. The U.S. dollar was down to 10.3436 Swedish Kronor from 10.3652 Swedish Kronor.

The U.S. central bank started a two-day policy meeting on Tuesday, with the Fed announcing its interest rate decision on Wednesday afternoon.

Markets are pricing in an 86.4 percent chance of a 25 basis point rate hike at the March meeting, according to data from the CME FedWatch tool on Tuesday.