Dollar edges down as traders look to central banks for cues

Published by
Reuters UK

By Saqib Iqbal Ahmed NEW YORK (Reuters) – The dollar edged down against the euro on Wednesday in subdued trading as investors were hesitant to make any big bets ahead of next week’s central bank meetings, including the Federal Reserve and the European Central Bank. In addition, much of Asia is observing Lunar New Year holidays. As a result most major currencies clung to familiar ranges. “Trading ranges remain remarkably compressed ahead of next week’s central bank meetings,” said Karl Schamotta, chief market strategist at Corpay. Traders broadly expect the Fed to increase rates by 25 basis poi…

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