U.S. dollar slips ahead of central bank meetings

2021-10-28 04:41

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NEW YORK, Oct. 27 (Xinhua) -- The U.S. dollar weakened in late trading on Wednesday as market participants are awaiting monetary policy decisions from major central banks around the world.

The dollar index, which measures the greenback against six major peers, decreased 0.14 percent at 93.8082.

In late New York trading, the euro rose to 1.1608 U.S. dollars from 1.1597 dollars in the previous session, and the British pound was down to 1.3745 dollars from 1.3766 U.S. dollars in the previous session. The Australian dollar rose to 0.7524 U.S. dollar from 0.7506 dollar.

The U.S. dollar bought 113.77 Japanese yen, lower than 114.14 Japanese yen of the previous session. The U.S. dollar fell to 0.9173 Swiss franc from 0.9196 Swiss franc, and it was down to 1.2344 Canadian dollars from 1.2384 Canadian dollars.

The above market moves came as the European Central Bank is set to meet on Thursday and the U.S. Federal Reserve will meet next week.

"Things could get uncomfortable for the dollar again over the coming days," Antje Praefcke, FX analyst at Commerzbank, said Wednesday in a note.

"It is likely to be priced in that the Fed will take a decision to reduce its asset purchases next week. What is more interesting for the market is the question of the lift-off, i.e. the first rate hike," she added.
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