Dollar Nears Two Week High Ahead of Fed
The dollar held steady near a two week high as traders awaited a Federal Reserve decision expected to bring another interest rate hike. Major currency pairs traded in a tight range with strategists split on the potential market reaction.
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The dollar held steady near a two-week high on Wednesday afternoon ahead of a Federal Reserve decision expected to lift interest rates. The currency index rose 1% over five sessions as traders priced in tighter U.S. monetary policy. Investors remain split on whether the central bank's announcement will extend the rally or trigger a reversal.
