Dollar Slides To Almost 2-month Low Ahead Of Fed

MarketWatch Pulse

The dollar moved lower against most other major currencies on Wednesday, with investors cautious of moving into the greenback ahead of the interest-rate statement from the U.S. Federal Reserve. Market participants have almost given up on the idea the central bank will hike rates in June, but analysts say it's unlikely the bank will acknowledge as much in its statement on Wednesday. The ICE dollar index fell 0.2% to 95.94, heading for its lowest closing level since early March, according to FactSet. The euro rose to $1.0991, up from $1.0968 late Tuesday, when the shared currency finished the North American session above its 50-day moving average for the first time since May. The dollar rose against the yen on Wednesday, climbing to �119.11 from �118.87 on Tuesday.

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