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Dollar rises on fears of trade war ahead of US Central Bank meeting
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The dollar rose on Wednesday, attracting investors looking for safe havens after reports of new tensions in US-China trade negotiations.
However, gains in the US currency were minor, with expectations that the Federal Reserve will be cautious at its meeting on monetary policy, which ends later on Wednesday.
The US central bank is due to announce its interest rate decision at 1800 GMT on Wednesday and is expected to keep the key overnight rate unchanged.
Bets on cutting interest rates were boosted by weaker-than-expected manufacturing data on Friday.
Despite the gloomy outlook, the US dollar rose against its Australian, Canadian and Japanese counterparts on Wednesday.
The Australian dollar, a sign of the risk associated with China due to Australia's reliance on Chinese demand for its exports, fell about 0.25 percent to $ 0.7070.
The dollar index, which tracks its performance against a basket of major rivals, rose 0.1 percent to 96.454 after hitting its lowest level since March 1 at 96.291 on Tuesday night.
On Wednesday, the euro fell slightly against the US dollar to $ 1.1344.
Sterling fell 0.3 percent to $ 1.3220. Sterling trimmed gains on Tuesday night on fears that British Prime Minister Theresa May would face complications in the EU's request to delay a withdrawal from the bloc.
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