Dollar rises before Fed decision

The dollar rose broadly against major peers on Wednesday as investors awaited ‌a U.S. Federal Reserve policy decision, with markets also on edge over an Iran war that shows little sign of easing, Reuters reported.

Caution prevailed ahead of a wave of major central bank meetings over the next two days, including decisions from the European Central Bank, the ​Bank of England and the Bank of Canada.

Investors are also eyeing a packed earnings slate, with Amazon (AMZN.O), opens new tab, Microsoft (MSFT.O), opens new tab and Meta (META.O), opens new tab set to report results after the close.

The Fed is widely ⁠expected to leave interest rates unchanged, putting the spotlight on policymakers’ assessment of how the war could affect the economic outlook. The meeting could be Jerome Powell’s last as Fed chair, with the full U.S. Senate poised to confirm Kevin Warsh after he cleared a key committee vote on Wednesday.

The euro slipped 0.18% to $1.16915, while sterling fell 0.24% to $1.34870.