Palladium prices rose nearly one percent in American trade as the dollar index backed off June 2017 highs for the fourth straight session, following earlier data from the US and ahead of the Federal Reserve's policy decisions. 

As of 02:55 GMT, palladium rose 0.78% to $797.00 an ounce, while the dollar index slid 0.40% to 96.71. 

Earlier US data showed the current trade deficit rose to $125 billion as expected from $101 billion in the second quarter. 

The Federal Open Market Committee is wrapping up its two-day policy meeting today, with analysts expected the fourth rate hike of the year to below 2.25%. 

The Fed will also release three-year forecasts for growth, inflation, unemployment, and interest rates. 

Dollar fell in European trade against a basket of major rivals on Wednesday against a basket of major currencies, ahead of policy decisions by the Federal Reserve later today. 

The dollar index shed 0.25% to 96.20, with a session-high at 96.43. 

The dollar closed down 0.2% yesterday, the second loss in a row under pressure from President Donald Trump's demands of the Fed to avoid raising rates and tightening policies. 

Now investors await US current account data, expected with a $125 billion deficit, up from $101 billion in the second quarter, while existing home sales are estimated with a 0.4% drop to 5.20 million units. 

The Federal Open Market Committee is wrapping up its two-day policy meeting today, with analysts expected the fourth rate hike of the year to below 2.25%. 

The Fed will also release three-year forecasts for growth, inflation, unemployment, and interest rates. 

Bitcoin rose over 2.5% on Wednesday for the third straight session, hitting two-week highs after surpassing $3,500 successfully on track for $4,000 as a recovery wave carries forward in the crypto market. 

At Bitstamp, Bitcoin rose $93, or 2.5% to $3,760, with an intraday low at $3,642, and the highest in two weeks at $3,776. 

Bitcoin rose 4.8% on Tuesday, the second profit in a row away from 15-month lows at $3,122 hit on Sunday. 

Market value of cryptocurrencies rose over $8 billion on Wednesday to a total of $123 billion, the highest since December 5. 

Crypto trading volumes rose from $10 billion to $18 billion in the last three days, with total market value increasing by $22 billion.

Bitcoin surged 17% from 15-month lows on Saturday in a positive sign for the current rebound period for cryptocurrencies. 

Dollar hit October 29 lows against yen following trade data from Japan and ahead of US trade and housing data, in addition to policy decisions by the Federal Reserve. 

As of 05:59 GMT, USD/JPY shed 0.14% to 112.36, with an intraday high at 112.60, and the lowest in seven weeks at 112.19. 

Earlier Japanese data showed the trade deficit widened to 0.74 trillion yen from 0.45 trillion in October, while the seasonally adjusted goods trade balance reading showed a deficit of 0.49 trillion, up from 0.29 trillion. 

The Japanese government released its forecasts for growth, inflation, and capital spending for this year and next, cutting growth estimates to 0.9% from 1.5% for this year, and to 1.3% from 1.5% for next year, while expecting capital spending to grow by 3.6% this year, and by 2.7% next year. 

The government cut inflation estimates for this year to 1.0% from 1.1%, and to 1.1% from 1.5% for next year. 

Now investors await US current account data, expected with a $125 billion deficit, up from $101 billion in the second quarter, while existing home sales are estimated with a 0.4% drop to 5.20 million units. 

The Federal Open Market Committee is wrapping up its two-day policy meeting today, with analysts expected the fourth rate hike of the year to below 2.25%. 

The Fed will also release three-year forecasts for growth, inflation, unemployment, and interest rates.