On Wednesday, the Greenback fell slightly vs. its major peers, as market players remained cautious ahead of the U.S. Federal Reserve's policy decision for clues on the future path of interest rates. The Federal Reserve is widely expected to raise interest rates at its a two-day policy meeting that will end today and is currently seen tightening two to three times next year, but worries over tepid inflation could change expectations for 2018.
The Single currency rose as much as 0.07% vs. the Greenback, to settle at $1.1750, settling above the previous day’s three-week low of $1.1716.
The Sterling pound rose as much as 0.21%, to settle at $1.3346, after an official data showingthat the UK unemployment rate was unchanged at a 42-year low in the three months to October 2017, compared with the previous quarter.
The JPY rose as much as 0.12% vs. the USD to settle at $113.42. On the release front, traders are awaiting Japan Buying Foreign Bonds.
Earlier today, Gold prices rose slightly, but stayed near their lowest level in five months as traders are awaiting the conclusion of the Federal Reserve's policy meeting, at which it is widely anticipated to hike interest rates by a 0.25% point. Gold Futures - Feb 18 (GCG8), rose as much as 0.11%, to settle at $ 1,243.10.
Oil prices traded high as an official data showed a larger-than-expected decline in U.S. crude inventories, while anticipations for an extended shutdown of a major North Sea crude pipeline also continued to support oil markets.
The most important economic events:
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