Investing.com - The dollar was trading in a tight range against the other major currencies on Tuesday as investors remained cautious ahead of the outcome of the Federal Reserve’s latest policy meeting.
During European late morning trade, the dollar was fractionally higher against the yen, with USD/JPY inching up 0.08% to 99.15.
The dollar remained under pressure ahead of the outcome of the Fed’s two-day policy meeting on Wednesday, amid expectations for a small reduction in the bank’s stimulus program.
Elsewhere, the euro pushed higher against the dollar, with EUR/USD up 0.21% to 1.3361.
The euro was boosted after a report showed that the ZEW index of German economic sentiment rose to 49.6 in September from 42.0 last month, on the back of the improved economic outlook for the euro zone. It was the highest level since April 2010.
The pound eased back from eight-month highs against the dollar, with GBP/USD dipping 0.05% to 1.5890 after data showed that U.K. consumer price inflation ticked down to 2.7% on a year-over-year basis in August from 2.8% in July.
The dollar was lower against the Swiss franc, with USD/CHF sliding 0.19% to 0.9256.
Elsewhere, the greenback was broadly lower against its Australian, New Zealand and Canadian counterparts, with AUD/USD rising 0.21% to 0.9337, NZD/USD up 0.30% to 0.8194 and USD/CAD edging down 0.05% to 1.0318.
The minutes of the Reserve Bank of Australia’s September meeting said Tuesday that further rate cuts remain possible but are not imminent and added that a further decline in the Australian dollar would be “helpful” to the economy.
The dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, was down 0.15% to 81.30.
The U.S. was to release data on consumer prices later in the trading day.
During European late morning trade, the dollar was fractionally higher against the yen, with USD/JPY inching up 0.08% to 99.15.
The dollar remained under pressure ahead of the outcome of the Fed’s two-day policy meeting on Wednesday, amid expectations for a small reduction in the bank’s stimulus program.
Elsewhere, the euro pushed higher against the dollar, with EUR/USD up 0.21% to 1.3361.
The euro was boosted after a report showed that the ZEW index of German economic sentiment rose to 49.6 in September from 42.0 last month, on the back of the improved economic outlook for the euro zone. It was the highest level since April 2010.
The pound eased back from eight-month highs against the dollar, with GBP/USD dipping 0.05% to 1.5890 after data showed that U.K. consumer price inflation ticked down to 2.7% on a year-over-year basis in August from 2.8% in July.
The dollar was lower against the Swiss franc, with USD/CHF sliding 0.19% to 0.9256.
Elsewhere, the greenback was broadly lower against its Australian, New Zealand and Canadian counterparts, with AUD/USD rising 0.21% to 0.9337, NZD/USD up 0.30% to 0.8194 and USD/CAD edging down 0.05% to 1.0318.
The minutes of the Reserve Bank of Australia’s September meeting said Tuesday that further rate cuts remain possible but are not imminent and added that a further decline in the Australian dollar would be “helpful” to the economy.
The dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, was down 0.15% to 81.30.
The U.S. was to release data on consumer prices later in the trading day.