The dollar fell on Wednesday as re-opening economies lifted the market mood ahead of central bank meetings.
The risk-sensitive Australian dollar gained 0.4%, at $0.6517, nearing its sixth consecutive week of gains. The New Zealand dollar climbed 0.6%, at $0.6093.
The U.S. Federal Reserve is set to hold a meeting on Wednesday and investors are awaiting the central bank s announcement on its future policy path. This capped further gains in the forex market.
The dollar index steadied at 99.837. The dollar stood at 106.70 against the Japanese yen, nearing a six-week low.
The pound traded at $1.2441 and the euro $1.0835.
U.S. consumer confidence plunged to a six-year low, while markets await the first-quarter GDP report expected to contract by 4%.
The Australian dollar has soared in the past week, gaining 18% from hitting a 17-year low in March.
The National Australia Bank revised its forecast for the Aussie dollar to $0.6750, but anticipates it to decline to $0.6200 at the end of this quarter.
https://www.umarkets.com/en/news/dollar-falls-market-mood-positive-ahead-of-fed-meeting
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