U.S. dollar declines amid Fed policy uncertainty

The U.S. dollar fell against most other major currencies on Wednesday as uncertainty about Federal Reserve policy weighed on the greenback.

Financial markets have been choppy in recent sessions on contrasting remarks by Fed officials ahead of the central bank's policy meeting.

Fed Governor Lael Brainard, a voting member of the central bank's policymaking committee, said in a speech earlier this week that while economic progress continues it would be wise for the Fed to keep monetary policy loose.

Atlanta Fed President Dennis Lockhart, however, said current economic conditions called for a "serious discussion" on rates at the September meeting, according to media reports.

The Federal Open Market Committee, the Fed's monetary policy arm, is set to meet on Sept. 20-21.

On the economic front, U.S. import prices declined 0.2 percent in August, after ticking up 0.1 percent in July, the Labor Department reported Wednesday. Prices for U.S. exports decreased 0.8 percent in August, following a 0.2-percent increase in July.

The dollar index, which measures the greenback against six major peers, was down 0.33 percent at 95.321 in late trading.

In late New York trading, the euro rose to 1.1250 dollars from 1.1207 dollars in the previous session, and the British pound increased to 1.3236 dollars from 1.3186 U.S. dollars in the previous session. The Australian dollar climbed to 0.7472 dollar from 0.7453 dollar.

The U.S. dollar bought 102.40 Japanese yen, lower than 102.72 yen of the previous session. The U.S. dollar dipped to 0.9736 Swiss franc from 0.9778 Swiss franc, and it moved up to 1.3200 Canadian dollars from 1.3170 Canadian dollars. Endit