AP News

Dollar trades in tight ranges ahead of Fed meeting


NEW YORK (AP) — The dollar traded in tight ranges against other major currencies Monday ahead of a Federal Reserve meeting later this week.

Traders are waiting to see if the central bank will announce additional steps to help the U.S. economy at the end of its two-day meeting on Thursday.

Fed Chairman Ben Bernanke said in a speech last month that the bank can do more to help the U.S. economy rebound. It has already launched two rounds of bond purchases, most recently in August 2010.

The euro fell to $1.2769 late Monday from $1.2795 late Friday. The British fell to $1.5998 from $1.6004.

The dollar rose to 0.9464 Swiss franc from 0.9457 Swiss franc.

The dollar slipped to 78.28 Japanese yen from 78.29 yen and to 97.76 Canadian cents from 97.82 Canadian cents.


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