Dollar slips before Fed meeting, U.S.-China trade talks
Monday, 28 January 2019 23:24 WIB | CURRENCIES |DOLLARDolar AS

The dollar was little changed against a basket of currencies on Monday as traders were cautious about staking new positions ahead of the Federal Reserve's two-day policy meeting and trade talks between China and the United States.

Safe-haven demand for the dollar dried up as the U.S. government started to reopen after a record long shutdown, and investors were bracing for a slew of economic figures that had been postponed.

The euro reached a 10-day high against the greenback as investors consolidated positions before votes in the British parliament on Tuesday aimed at breaking a Brexit deadlock.

At 10:35 a.m.(15:35 GMT), the ICE index that tracks the dollar versus the euro, yen, sterling and three other currencies was down 0.07 percent at 95.728. It hit a near two-week low at 95.673 earlier Monday.

Policy makers on the Federal Open Market Committee (FOMC) begin meeting on Tuesday. They are expected to signal a pause in tightening and acknowledge growing economic risks.

U.S.-China talks resume on Tuesday and Wednesday to see if the world™s two largest economies can end their trade dispute.

The euro rose to a near two-week peak at $1.1438. It last traded up 0.21 percent at $1.1429.

The pound was down 0.20 percent at $1.317, while the euro was up 0.38 percent at 86.80 pence.

Source: Reuters

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