U.S. dollar falls ahead of Fed meeting

The U.S. dollar slipped against other major currencies on Monday as investors were awaiting the closely-watched Federal Reserve meeting due later this week.

The U.S. central bank will start its two-day monetary policy meeting on Tuesday. It is widely expected that the Fed will raise its interest rate for the first time this year.

Analysts said that with a rate-hike largely priced in, market focus has shifted to the Fed' s stance in recent dollar rally and further tightening next year.

The dollar index, which tracks the greenback against six major peers, has been up over 4 percent since Donald Trump' s U.S. election victory on Nov. 8.

Analysts pointed out that some investors are worried that the Fed may say in its Wednesday' s statement that the greenback' s gains had gone too far, which put the greenback under pressure on Monday.The dollar index was down 0.64 percent at 100.940 in late trading.

In late New York trading, the euro rose to 1.0640 dollars from 1.0547 dollars, and the British pound climbed to 1.2679 dollars from 1.2558 dollars. The Australian dollar increased to 0.7492 dollars from 0.7446 dollars.

The dollar bought 115.14 Japanese yen, lower than 115.24 yen in the previous session. The dollar inched down to 1.0140 Swiss francs from 1.0187 Swiss francs, and it fell to 1.3136 Canadian dollars from 1.3175 Canadian dollars. Enditem