Dollar Snaps Three-Day Loss Before Fed Decision; Pound Rises
This article is for subscribers only.
The dollar gained for the first time in four days against the yen before the Federal Reserve announces whether it will reduce stimulative bond-buying that’s been debasing the U.S. currency.
The greenback climbed against the euro as central bank policy makers decide whether to begin reducing $85 billion per month of bond-buying, known as quantitative easing. Japan’s currency fell versus all except two of its 16 major peers as the nation’s trade deficit widened to a record. The pound jumped the most in almost six weeks versus the euro as the U.K.’s jobless rate fell to the lowest since 2009.