After easing in the previous session following U.S. data that showed moderating wage pressure, the greenback was broadly flat against major currencies on Wednesday as investors keenly awaiting the decision of a Federal Reserve policy meeting.
The Fed is expected to raise interest rates by 25 basis points later on Wednesday.
Notably it is the Fed Chair Jerome Powell’s press conference is likely to draw the attention as traders attempt to gauge how long the Fed is likely to stay hawkish.
The dollar index, which measures the U.S. currency against six major peers, fell 0.029 percent to 102.060. It slipped 0.16 percent in the previous session, attributed to a report showing U.S. labor costs had increased in the fourth quarter at their slowest pace in a year.
The index has fallen for four straight months.
Alson on the investors’ radar this week will also be on the monetary path taken by European Central Bank and Bank of England, each of which is expected to raise interest rates by 50 basis points on Thursday.
