Dollar Set for Monthly Loss Before FOMC; Aussie Near 3-Year Low
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The dollar is set to close out a monthly loss against most of its major peers as investors await the Federal Reserve’s policy statement today for signals on when it may curb bond buying that tends to debase the currency.
The dollar was 0.3 percent from a six-week low against the euro before U.S. data forecast to show slowing growth in gross domestic product and employment. Fed Chairman Ben S. Bernanke said earlier this month that any reduction in stimulus would depend on the economy’s performance. The pound traded near the lowest in four months against the euro before policy decisions from the European Central Bank and the Bank of England tomorrow. Australia’s dollar approached its lowest in almost three years.