Dollar Edges Lower As Market Awaits Fed Meeting
April-25-2011--NEW YORK --The dollar edged slightly lower on Monday as investors refrained from betting aggressively for or against the US currency ahead of a key Federal Reserve policy meeting this week.
The dollar's contained moves reflected how much negative news the beleaguered currency has already priced in and how likely the unit would be to rebound if the Fed gave a surprisingly hawkish assessment of the economy. Concerns about the U.S. fiscal outlook and ultra-loose monetary policy have made the dollar an unattractive alternative to higher-yielding currencies such as the euro and pound.
But in markets still thinned by the Easter holiday, traders largely refrained from driving the dollar to new multi-year lows against most major currencies.
Questions for Bernanke? Details of News Conference
Dollar steadies ahead of Fed rate-setting meeting
GOVERNMENT MORTGAGE RELIEF