Economic news

Review: U.S. dollar rose from 13-month low before Fed decision

The U.S. dollar rose on Wednesday, up from a 13-month low struck in the previous session as investors reduced some short positions before Fed policy decision.

Markets have reduced expectations for U.S. interest rates increase in the coming months, and also expecting another rate hike to less at less than 50 percent before the end of this year, according to Reuters polls and CME's Fedwatch tool.

The dollar rose 0.1% to 94.19 against a trade basket of its rivals. On Tuesday, the dollar fell to a 13-month low of 93.638.

The U.S. Central Bank will issue its decision after a two-day meeting. Economists expect that Fed' the base lending rate will remain in a target range of 1.00% to 1.25%.

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