The dollar weakened for a second day against the yen as investors pared bets the Federal Reserve will signal a change to its asset-buying program at the end of a two- day meeting tomorrow.
The U.S. currency was 0.2 percent from its lowest in 11 months versus the euro before a report today forecast to show confidence among U.S. consumers declined in January. The yen climbed against all its 16 most-traded counterparts as investors reduced wagers it would keep falling after sliding for the past 11 weeks in the longest losing streak on record.
“We’re going to get a pretty clear reiteration from the Fed that quantitative easing will continue for quite some time,” said Sean Callow, a senior currency strategist at Westpac Banking Corp. in Sydney. “The strong dollar story is a tough case to make right now.”
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