forexsq - The U.S. dollar fell against the euro in choppy afternoon trade in Asia on Tuesday, with attention turning to this weekâ€™s Federal Reserve monetary policy meeting.
The ICE dollar index DXY -0.10% , a gauge of the greenbackâ€™s performance against a basket of six major global currencies, fell to 80.287 â€” well off the Asian sessionâ€™s 80.371 high â€” from 80.309 late in North America on Tuesday.
The euro EURUSD +0.23% jumped to $1.2953, bouncing off the dayâ€™s $1.2927 low, ahead of European marketsâ€™ open. The common currency was trading hands at $1.2942 in the U.S. Monday.
The Federal Open Market Committee, scheduled to meet Wednesday, is expected by several analysts to announce an expansion its monetary easing to maintain purchases of longer-maturity securities, given that its so-called Operation Twist policy is set to expire at the year-end. forex
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