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Singapore, July 29 (QNA) – The US dollar paused its climb on Wednesday but held near a one-month high, as traders awaited a Federal Reserve interest rate decision later in the day.
Moves in currencies were largely subdued as investors stayed on the sidelines ahead of the Federal Open Market Committee’s decision, with markets pricing in a roughly 33% chance of a 25-basis-point hike.
The euro was nursing losses after falling to a one-month low, falling 0.3% to $1.1386. Sterling edged 0.06% higher to $1.3282, but remained near its weakest level since July 1.
The dollar index, which measures the currency against a basket of peers, eased to 101.43. The yen strengthened to 163.88 per dollar, but remained not far from a 40-year low.
As for other currencies, the Australian dollar was little changed at $0.6973, awaiting the release of local inflation data, while the New Zealand dollar fell 0.09% to $0.5782. (QNA)
