US dollar rises ahead of Fed meeting

New York, March 15 (IANS) The US dollar increased against other major currencies as investors were awaiting the closely-watched Federal Reserve meeting.

In late New York trading on Monday, the euro fell to $1.1083 from $1.1155 of the previous session, and the British pound dropped to $1.4299 from $1.4378, Xinhua news agency reported.

The Australian dollar went down to $0.7496 from $0.7573.

The dollar bought 113.82 Japanese yen, higher than 113.73 yen of the previous session.

The dollar increased to 0.9880 Swiss francs from 0.9819 Swiss francs, and it inched up to 1.3270 Canadian dollars from 1.3218 Canadian dollars.

Fed officials will meet on Tuesday and Wednesday to discuss the country’s economic performance and monetary policy.

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