U.S. dollar declines ahead of Fed meeting

The U.S. dollar decreased against other major currencies on Monday as investors were awaiting the Federal Reserve meeting due to open later this week.

The market kept a close eye on the Fed's two-day monetary policy meeting, which is scheduled to begin on Tuesday, for more information about the pace of further interest rate-hikes.

Analysts said the recent over downbeat economic data from the country has boosted bets that the Fed will skip the chance to raise rates in its September.

The dollar index, which measures the greenback against six major currencies, was down 0.26 percent at 95.859 in late trading.

In late New York trading, the euro rose to 1.1175 dollars from 1.1152 dollars of the previous session, and the British pound increased to 1.3030 dollars from 1.3016 dollars. The Australian dollar climbed to 0.7547 dollars from 0.7482 dollars.

The dollar bought 101.79 Japanese yen, lower than 102.43 yen in the previous session. The dollar dipped to 0.9800 Swiss francs from 0.9811 Swiss francs, and it inched down to 1.3191 Canadian dollars from 1.3215 Canadian dollars. Endit