Dollar drops slightly ahead of Fed decision

The U.S. dollar fell slightly against major currencies on Wednesday, in light of anticipating the federal Open Market Committee’s (FOMC) decision later today.

This comes amid market fears about the U.S. economy, which showed a variation in performance during this last period, after releasing data that varied between positive and negative lately.

Focus turned now towards the outcome of the FOMC two-day’s meeting today, which is expected to show that the Federal Reserve (Fed) decided to delay raising interest rates.

Markets are expected to consolidate after the Fed announce its monetary policy by keeping interest rates unchanged, and withdraw the last batch of stimulus plans from markets (Treasury bond buying and mortgage-backed bonds programs) amounting to $15 billion.