Dollar edges up ahead of Fed rate decision

The US dollar inched higher against most major currencies today, amid focus on the fight against the coronavirus, and anticipation for the Federal Reserve's interest rate decision, as well as corporate earnings reports for the fourth quarter of 2019.

The Federal Reserve launched its monetary policy meeting today, and will unveil its interest rate decision tomorrow, with forecasts for the bank to keep the rate unchanged, which will be followed by a press conference from the bank's chief Jerome Powell.

The Chinese government confirmed today that 106 people had died from the coronavirus, with more than 5,000  infected cases, some of whom are in critical condition.

The impeachment trial for President Donald Trump in the US Senate continued, and a defence team for the president was heard today.

The dollar index rose against a basket of currencies by 0.1% to 98.05 points at 20:04 GMT, after hitting a day high of 98.1 and a low of 97.9.