US dollar falls ahead of Federal Reserve’s meeting

New York: The US dollar fell against most major currencies ahead of a two-day US Federal Reserve meeting.

In late New York trading on Monday, the euro increased to $1.1337 from $1.1320 in the previous session, and the British pound fell to $1.3251 from $1.3285 in the previous session, Xinhua reported.

The Australian dollar rose to $0.7099 from $0.7085.

The US Federal Reserve Open Market Committee is scheduled to meet on Tuesday and Wednesday, with market participants focusing on the Fed’s policy statement at the end of the meeting.

Investors have broadly expected that the Fed would remain its current benchmark overnight interest rate range.

The US dollar bought 111.40 Japanese yen, lower than 111.49 Japanese yen of the previous session. The US dollar fell to 1.0010 Swiss francs from 1.0022 Swiss francs, and it was up to 1.3351 Canadian dollars from 1.3345 Canadian dollars.