|Published : 15 Mar 2017, 14:30:40|
Dollar wobbles in thin trading ahead Fed meeting
The dollar wobbled in a narrow range in Asian trading on Wednesday, as investors waited anxiously to see what clues the US Federal Reserve would soon reveal on its monetary policy outlook.
With the futures market pricing in more than a 90 per cent chance that it would raise interest rates, investors' main focus turned to what the Fed's statement on Wednesday will say.
Against its Japanese counterpart, the greenback edged up 0.1 per cent to 114.81 JPY=, remaining shy of last week's peak of 115.51, which was its highest level since Jan. 19.
Sterling nursed its losses after tumbling to an eight-week low of $1.2110 GBP=D3 in the previous session, amid worries about a prolonged and painful process of the UK's exit from the European Union.
The sterling was last steady on the day at $1.2166.
The euro edged up 0.1 per cent to $1.0614 EUR=. It remained below its Monday high of $1.0714, which was its loftiest perch since early February.
The dollar index, which tracks the greenback against a basket of six rival currencies, was flat at 101.71, according to Reuters.