Forex - US Dollar Falls to 2-1/2 Week Low By - Investing.com

Investing.com - The greenback fell to a two-and-a-half week low on Monday as investors pulled back ahead of the Federal Reserve’s later in the week.

The Fed is expected to keep rates unchanged at its latest policy meeting on Wednesday, but its update on rate forecasts will be looked over closely.

The , which measures the greenback’s strength against a basket of six major currencies, lost 0.1% to 95.958 as of 10:44 AM ET (14:44 GMT).

Recent weak economic data could lead to loosening monetary policy. The Fed has said it will be patient and review data before increasing rates in the near term.

Traders currently expect no interest rate hikes this year, according to Investing.com’s .

Wednesday’s meeting is just the start of central bank decisions, with the and due to meet on Thursday, while central bank meets on Friday.

The dollar rose against the safe-haven yen, with rising 0.1% to 111.57.

Sterling fell as U.K. Prime Minister Theresa May tries to push her Brexit bill through parliament for the third time, even as analysts expect it to fail again. If it fails, May will have to ask the European Union to extend the March 29 deadline. slipped 0.4% to 1.3242.

Elsewhere, increased 0.2% to 0.7093, while gained 0.2% to 0.6855. The loonie inched up, with down 0.01% to 1.3330. was up 0.2% to 1.1341.

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