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Dollar rises on easing of oil tensions and anticipation of US central bank meeting
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Economy News _ Baghdad
The dollar approached a seven-week high against the yen on Wednesday as oil markets recovered from a supply shock, but markets are cautious ahead of a meeting of the Federal Reserve later in the day that is expected to yield New cut in interest rates.
The pound traded near a six-week high against the dollar as some speculators trimmed bets on the British currency's decline, but sentiment remained weak due to the uncertainty surrounding the way Britain will emerge from the European Union.
The dollar traded at 108.20 yen on Wednesday, near a seven-week high of 108.37 yen.
Sterling was at $ 1.2487, holding up 0.6 percent on Tuesday when it briefly touched its highest level since July 19.
Among other currencies, the euro was steady at $ 1.1065, little changed in Asian trading.
The Australian dollar was at $ 0.68485, down 0.27 percent.
The dollar index, which measures the greenback's strength against a trade-weighted basket of six major currencies, was down 0.03 percent at 98.288.
The pound traded near a six-week high against the dollar as some speculators trimmed bets on the British currency's decline, but sentiment remained weak due to the uncertainty surrounding the way Britain will emerge from the European Union.
The dollar traded at 108.20 yen on Wednesday, near a seven-week high of 108.37 yen.
Sterling was at $ 1.2487, holding up 0.6 percent on Tuesday when it briefly touched its highest level since July 19.
Among other currencies, the euro was steady at $ 1.1065, little changed in Asian trading.
The Australian dollar was at $ 0.68485, down 0.27 percent.
The dollar index, which measures the greenback's strength against a trade-weighted basket of six major currencies, was down 0.03 percent at 98.288.
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