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NEW YORK, May 3 (Xinhua) — The U.S. dollar decreased in late trading on Tuesday as market participants were awaiting a key decision from the Federal Reserve.
The dollar index, which measures the greenback against six major peers, fell 0.27 percent to 103.4620.
Traders turned their eyes to the Fed as the U.S. central bank will conclude its two-day policy meeting on Wednesday and will announce how much it’s increasing interest rates, and how aggressive it will be in reducing the balance sheet.
The Australian dollar rallied after the Reserve Bank of Australia lifted interest rates by 25 basis points to 0.35 percent, the first hike in over a decade.
In late New York trading, the euro was up to 1.0529 U.S. dollars from 1.0495 dollars in the previous session, and the British pound increased to 1.2491 U.S. dollars from 1.2475 dollars in the previous session. The Australian dollar increased to 0.7095 U.S. dollars from 0.7039 U.S. dollars.
The U.S. dollar bought 130.18 Japanese yen, higher than 130.15 Japanese yen of the previous session. The U.S. dollar was unchanged at close at 0.9786 Swiss franc, and it fell to 1.2840 Canadian dollars from 1.2901 Canadian dollars.
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