The U.S. dollar edged lower Wednesday, but remained near a two-week high as traders awaited a widely expected interest rate hike from the Federal Reserve later in the session.
At 02:55 ET (06:55 GMT), the Dollar Index, which tracks the greenback against a basket of six other currencies, traded 0.1% lower at 100.960, after pushing as high as 101.65 overnight for the first time since July 11.
The dollar received a boost Tuesday when data showed U.S. consumer confidence rose to a two-year high in July as inflation retreated while the economy showed resilience despite the higher interest rates.
The U.S. Federal Reserve completes its two-day policy-setting meeting later this session and is widely expected to authorize a quarter-point hike, in what would be the 11th hike in its past 12 policy meetings.
EUR/USD rose 0.1% to 1.1067, just above the previous session's low of 1.1036, a level last seen on July 12.
AUD/USD fell 0.2% to 0.6776, falling after softer-than-expected consumer price index data ramped up bets that the Reserve Bank of Australia was unlikely to further increase interest rates.
GBP/USD traded largely unchanged at 1.2898, USD/JPY fell 0.2% to 140.68, ahead of Friday's Bank of Japan meeting, while USD/CNY rose 0.2% to 7.1513 as optimism over more stimulus measures in China cooled ahead of the Fed decision.
Source : Investing.com
