Fed uncertainty fuels cautious dollar trades

The dollar stabilised near multi-week highs on Tuesday as traders turned cautious ahead of the Federal Reserve’s two-day policy meeting which could provide hints of any plans to start tapering its bond purchases. So far Fed officials, led by Chair Jerome Powell, have stressed that rising inflationary pressures are transitory and ultra-easy monetary settings will stay in place for some time to come but recent economic data has raised concerns that price pressure could force an earlier stimulus withdrawal.

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