The dollar wallowed near a four-week low on Tuesday as traders waited with bated breath for the outcome of the Federal Reserve’s two-day policy meeting at which it’s expected to announce a modest reduction in its bond-buying stimulus.
The dollar was little changed versus a basket of currencies at 81.312, after having set a four-week low of 80.968 the previous day.
The greenback had retreated on Monday after Lawrence Summers’ withdrawal from the race to lead the Federal Reserve reduced expectations of a faster pace of monetary policy tightening by the U.S. central bank.
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