Dollar Drops Versus Major Peers as Fed Opens Meeting
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The dollar fell versus all but one of its 16 most-traded peers as investors pared bets the Federal Reserve will signal a change to its asset-buying program at the end of a two-day meeting tomorrow.
The euro rose to its strongest versus the dollar since December 2011 after exceeding a technical level amid increasing appetite for risk as optimism rose that fiscal turmoil in the region is easing. South Africa’s rand rallied against the dollar from the weakest in almost four years. The yen gained versus the dollar as U.S. consumer confidence fell.