Dollar Wavers Ahead of US Fed Policy Meeting

The dollar wavered today, while the yen regained some lost ground as investors made lastminute tweaks to positions ahead of the Federal Reserve's policy meeting expected to initiate a US easing cycle. The US Federal Reserve is expected to make today its first interest rate cut in more than four years. Markets pricing a 61% probability of a 50 basis point cut. The dollar has fallen along with US yields since July and at $1.1119 per euro is not far from the year's low at $1.1201. The yen rose 0.7% to 141.41 per dollar today, recouping about a third of an overnight drop. The yen was down 0.3% to 157.84 per euro. Elsewhere, the Australian dollar traded at a two-week top at $0.6773, and the New Zealand dollar rose to $0.6196. Sterling gained slightly at $1.3158 with its rally being driven by signs of a steadying economy and sticky inflation. Source: Oman News Agency