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Dollar Rises Versus Most Peers Before Fed Meeting; Yen Gains

The dollar strengthened versus the majority of its most-traded peers amid expectations the Federal Reserve will reiterate plans this week to reduce stimulus if economic performance continues to show signs of improvement.

Japan’s currency advanced against all of its 16 major peers after Japanese retail sales fell and Chinese industrial companies reported slowing profits, boosting demand for haven assets. The Bloomberg Dollar Index rose from almost six-week low after an industry report showed pending U.S. home sales declined less than forecast. The Federal Reserve’s Open Market Committee starts a two-day meeting tomorrow.