Dollar records limited moves in anticipation of US interest rate decision and sterling rises
Economy News - Baghdad
The dollar made limited moves in trading as markets prepared for a rate cut by the US Federal Reserve later on Wednesday, while the pound stabilized after the House of Commons approved a call for early elections in December. It could end the impasse in withdrawing from the EU.
The dollar was steady against the euro at $ 1.1110 and was steady against a basket of six major currencies at 97.698 as investors awaited the Federal Reserve's interest rate decision.
Against the yen, the greenback was also small at 108.84 yen, near a three-month high of 109.07 touched on Tuesday.
The US central bank is expected to cut interest rates for the third time in a row on Wednesday at the end of its two-day meeting.
Sterling was last trading at $ 1.2865.
Among other currencies, the Chinese yuan rose slightly as investors awaited the outcome of the Federal Reserve meeting and more clarity on how to conduct Sino-US trade negotiations.
In the spot market, the spot price of the yuan was recorded at home in the latest trading at 7.0650.