The U.S. dollar stayed in the upper
At noon, the dollar fetched
The euro was quoted at
The dollar was nearly at a standstill before the U.S. central bank's Federal Open Market Committee votes on policy. The Fed will likely cut its current
Market players are hungry for hints on the timing of the Fed's first interest rate hike from its current near-zero level. Chair
"The FOMC probably isn't looking to feed market expectations just yet," said
Data on U.S. gross domestic product in the April to June period are also due out Wednesday, carrying expectations of improvement after a surprise 2.9 percent contraction in the previous quarter.
"People are expecting either a strong reading in the order of more than 3.3 percent growth, or an upward revision of the previous data. If it doesn't deliver, the dollar will be sold for the yen," Moritani said.
The euro was boxed in a narrow range against the dollar and the yen before the release of inflation data on Thursday.
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