The dollar is hovering in suspense ahead of the Fed

Janet yellenChip Somodevilla/GettyFederal Reserve Board Chair Janet Yellen

The dollar isn’t budging ahead of the conclusion of the Federal Reserve’s September meeting.

The US dollar index was little changed at 91.73 at 8:48 a.m. ET.

On Wednesday, the Fed is expected to keep its benchmark interest rate unchanged between 1% and 1.25% and announce the process for unwinding its massive balance sheet.

The greenback has fallen 9.4% versus a basket of its peers since President Donald Trump’s inauguration on January 20.

As for other FX news, here was the scoreboard at 8:53 a.m. ET:

  • The euro is little changed at 1.1993 against the dollar after data showed German PPI rose 2.6% year-over-year in August, above expectations of a 2.5% jump.
  • The British pound is up 0.2% at 1.3534 against the dollar after retail sales rose 1% month-over-month in August, above expectations of 0.2%.
  • The Japanese yen is higher by 0.2% at 111.43 per dollar.
  • The Canadian dollar is stronger by 0.3% at 1.2256 per dollar.
  • The Russian ruble is up 0.6% at 57.8120 per dollar.

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