Dollar treads water by six-month lows before Fed announcement

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Reuters UK

By Alden Bentley, Alun John and Amanda Cooper LONDON/NEW YORK (Reuters) – The dollar hovered near its lowest levels since June against the euro and pound on Wednesday, as traders awaited the Federal Reserve’s interest rate decision, a day after tamer U.S. consumer inflation data that seemed to allow scope to slow its tightening pace. The dollar index was nearly flat, having fallen Tuesday to it’s weakest since June 16, in the wake of the November U.S. Consumer Price Index report showing a smaller-than-expected rise for a second straight month, and underlying consumer prices advancing by the le…

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