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Dollar rises cautiously ahead of Fed's decisions
The US dollar rose on Wednesday against a basket of major currencies, ahead of the Federal Reserve's monetary policy decisions, which is expected to provide cues on the chances of a near monetary policy tightening and scaling back the bond purchase program.
The dollar index rose 0.1% to 93.29 points, after opening at 93.22 points, and hit an intraday low at 93.15 points.
The greenback lost 0.1% yesterday, the second straight daily loss, due to profit-taking from a 4-week high 93.45 points.
The US Federal Reserve's monthly meeting will conclude later today, amid expectations of holding the benchmark interest rate near zero.
The decision will be reveled at 18:00 GMT, and will be followed by a press conference from the Fed Chief Jerome Powell at 18:30 GMT to comment on monetary policy.
The meeting is expected to offer some clues on the pace of cutting down the bonds purchases program before the end of this year.
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