Dollar Subdued Ahead of Fed Decision; Sterling Rise on CPI jump
The U.S. dollar traded near five-week lows in early European trade Wednesday ahead of the latest Federal Reserve interest rate decision, while surprisingly strong U.K. inflation data lifted the pound. At 03:55 ET (07:55 GMT), the Dollar Index, which tracks the greenback against a basket of six other currencies, traded 0.1% lower at 102.825, just above a new five-week low hit earlier in the session. The recovery in risk sentiment as the week has progressed has weighed on the safe-haven dollar, but losses are minor early Wednesday as the focus…
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