Dollar gains versus majors ahead Fed meeting

The greenback strengthened against other major currencies before the two-day Federal Reserve Bank’s meeting, where investors are weighing on the meeting’s results.

From another side, markets are waiting growth data for American economy concerning the second quarter of the year, in addition to the Job report at the end of the week.

 Moreover, current expectations towards the US economy boosted demand on the greenback today amid the weakness of high-revenue assets. US dollar dropped against the yen after the inclined jobless rate in Japan.

Euro shed against the Japanese yen near its lowest since 17 ^th Nov. 2013, where the EUR/JPY pair traded near 1.3438, while the USD/JPY pair traded near 101.83 and expected to reach 102 this week.

Overall, currencies are traded in narrow ranges today before the Federal Reserve’s meeting and the heavy weighted economic data in the world’s first largest economy.

Kiwi continue its series of declines against its counterpart American dollar to reach the lowest in six weeks, where the RBNZ is expected to lower interest rate especially after it’s governors view that Kiwi still overvalued.

NZD/USD pair traded near 0.8554 after recording its lowest yesterday at 0.8528.