US dollar falls against euro before ECB meeting

New York, March 10 (IANS) The US dollar decreased against the euro on Wednesday before the European Central Bank’s (ECB) meeting scheduled later this week.

With no major data coming out on Wednesday, investors focused on the closely-watched ECB monetary policy meeting due to open on Thursday, Xinhua reported.

It is widely expected that the ECB will expand its stimulus plan, but some investors were concerned that the expansion may fall short of expectations.

The shared currency rose mildly against the greenback on Wednesday. The dollar index, which measures the greenback against six major peers, was down 0.09 percent at 97.120 in late trading.

In late New York trading, the euro rose to 1.1010 dollars from 1.1007 dollars of the previous session, and the British pound climbed to 1.4221 dollars from 1.4214 dollars. The Australian dollar went up to 0.7511 dollars from 0.7445 dollars.

The dollar bought 113.33 Japanese yen, higher than 112.57 yen of the previous session. The dollar increased to 0.9970 Swiss francs from 0.9963 Swiss francs, and it inched down to 1.3252 Canadian dollars from 1.3404 Canadian dollars.

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