Euro rises against dollar as markets stand still

The euro rose against the U.S. dollar for the third consecutive session on Tuesday, recapping some of last week’s losses ahead of the Federal Reserve policy decision tomorrow.

The FX market steadied today as members of the Federal Open Market Committee commenced their two-day meeting, expected to leave policy unchanged with fed funds at range of zero to 0.25%.

The FOMC will announce their interest rates decision at 2 p.m. EST on Wednesday.

Meanwhile, the euro maintains a positive direction in light of the current stability seen by the greenback with the start of the week in light of the latest downbeat data from the world`s largest economy.

The euro area`s economic agenda is apparently shy today so the single currency might stay firm against its U.S. counterpart, compared to yesterday`s range.