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U.S. dollar edges down as Fed decision looms

NEW YORK, Nov. 1 (Xinhua) — The U.S. dollar inched lower in late trading on Tuesday as market participants are looking ahead to a key decision by the Federal Reserve.

The dollar index, which measures the greenback against six major peers, fell 0.04 percent to 111.4800.

In late New York trading, the euro was up to 0.9888 U.S. dollars from 0.9887 dollars in the previous session, and the British pound increased to 1.1479 U.S. dollars from 1.1470 dollars in the previous session.

The U.S. dollar bought 148.18 Japanese yen, lower than 148.62 Japanese yen of the previous session. The U.S. dollar decreased to 0.9997 Swiss francs from 1.0016 Swiss francs, and it fell to 1.3616 Canadian dollars from 1.3627 Canadian dollars. The U.S. dollar fell to 11.0160 Swedish Kronor from 11.0451 Swedish Kronor.

The above market reactions came as the Fed’s rate decision will take center stage.

The Fed will make its announcement on rates on Wednesday afternoon when a two-day policy meeting concludes. Fed Chair Jerome Powell will hold his customary press conference afterwards.