Dollar Holds Steady Ahead of Anticipated Fed Rate Hike
The dollar held steady near multi-week highs as traders anticipated a Federal Reserve interest rate hike. Markets expect a quarter-point increase to a 3.75 percent to 4 percent range. Meanwhile, the yen touched a one-week low ahead of the central bank decision.
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The dollar held steady near multi-week highs on Wednesday afternoon ahead of a Federal Reserve decision expected to deliver a quarter-percentage-point rate hike. The currency has advanced this week alongside climbing yields, gaining the most against the Japan yen and New Zealand dollar. Traders have fully priced in the move to a 3.75%-4% range, according to market data.
