Investing.com - The dollar turned lower against the yen on Wednesday and was rangebound against the other major currencies as investors positioned ahead of the conclusion of the Federal Reserve’s policy meeting later in the global day.
During European morning trade, the dollar slipped lower against the yen, with USD/JPY down 0.35% to 94.98.
Investors were anticipating the Fed’s rate statement and press conference amid uncertainty over the direction of monetary policy after Chairman Ben Bernanke said last month the bank could begin to taper asset purchases if the economy continued to improve.
The dollar was steady close to four month lows against the euro, with EUR/USD dipping 0.01% to 1.3392.
Elsewhere, the greenback edged lower against the pound, with GBP/USD easing up 0.09% to 1.5657.
The dollar little changed against the Swiss franc, with USD/CHF dipping 0.04% to 0.9195.
The greenback was lower against its Australian, New Zealand and Canadian counterparts, with AUD/USD climbing 0.23% to 0.9506, NZD/USD gaining 0.17% to trade at 0.8002 and USD/CAD inching up 0.02% to 1.0210.
The dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, was down 0.09% to 80.73.
During European morning trade, the dollar slipped lower against the yen, with USD/JPY down 0.35% to 94.98.
Investors were anticipating the Fed’s rate statement and press conference amid uncertainty over the direction of monetary policy after Chairman Ben Bernanke said last month the bank could begin to taper asset purchases if the economy continued to improve.
The dollar was steady close to four month lows against the euro, with EUR/USD dipping 0.01% to 1.3392.
Elsewhere, the greenback edged lower against the pound, with GBP/USD easing up 0.09% to 1.5657.
The dollar little changed against the Swiss franc, with USD/CHF dipping 0.04% to 0.9195.
The greenback was lower against its Australian, New Zealand and Canadian counterparts, with AUD/USD climbing 0.23% to 0.9506, NZD/USD gaining 0.17% to trade at 0.8002 and USD/CAD inching up 0.02% to 1.0210.
The dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, was down 0.09% to 80.73.