Euro rises against dollar before Fed's decisions

Euro rose against the dollar in American trade away from early March lows for the second straight session, following earlier data from the US, and amid a lack thereof from the euro zone, while markets await the Federal Reserve's policy decisions later today.  

As of 02:21 GMT, EUR/USD rose 0.33% to 1.2283 from the opening of 1.2242, with a session-high at 1.2296, and a low at 1.2241. 

Earlier US data showed the trade deficit widened to $128.2 billion from $101.5 billion in the third quarter, missing expectations of a $125B deficit, while existing home sales rose 3% in February to an annualized 5.54 million units, compared to a 3.2% drop in January to 5.38 million, while analysts expected a 0.4% rise to 5.41 million. 

Now investors await the results of the FOMC's meeting today under new Chair Jerome Powell, as analysts expect policymakers to hike interest rates to between 1.50% and 1.75%, while unveiling their three-year forecasts for growth, inflation, unemployment, and interest rates.