U.S. Dollar hits 1-week high waiting for Fed Decision

The dollar touched a one-week high against a basket of major currencies on Wednesday as investors further trimmed bearish positions ahead of the outcome of the Federal Reserve policy meeting.

Investors had sold the greenback heavily in the run up to the Oct 29-30 meeting on growing expectations the U.S. central bank will maintain its massive bond-buying stimulus program through to early next year.

As is usual after such a decisive move, investors decided to book some profits ahead of the Fed’s decision due 1800 GMT.


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