Dollar Depreciates Against Majors Before Fed Decision
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The dollar fell to the lowest level in almost a week versus the euro as investors anticipate the Federal Reserve will announce additional monetary stimulus.
The U.S. currency weakened against its higher-yielding counterparts as 48 of 49 economists surveyed by Bloomberg expect the central bank to add to bond purchases, known as quantitative easing, after a two-day meeting concludes today. The yen fell to the weakest in eight months versus the dollar as Japan’s Liberal Democratic Party, which has pledged fiscal stimulus to stoke economic growth, leads in polls before Dec. 16 elections. The 17-nation euro strengthened after Bank of Greece Governor George Provopoulos said the nation’s bond buyback was a success.