EUR/USD
The euro was steady against the dollar on Tuesday, after recovering from an 11-year lowest point in the previous session as investors began turning their attention to Wednesday’s Federal Reserve meeting. The shared currency initially fell on Monday in the wake of a sweeping election victory for the anti-austerity Syriza party in Greece. Investors were looking ahead to the outcome of Wednesday’s Fed meeting, with the bank expected to stick to its pledge to be patient on tightening monetary policy.
GBP/USD
The pound pulled away from session highs against the U.S. dollar on Tuesday, after the release of disappointing U.K. economic growth and mortgage approvals data, while investors remained cautious ahead of the Federal Reserve's upcoming policy meeting. In a report, the Office for National Statistics said U.K. gross domestic product expanded by 0.5% in the final three months of 2014, below forecasts for growth of 0.6%. The U.K.’s economy grew by 0.7% in the previous quarter. A separate report showed that U.K. mortgage approvals decreased to a 20-month low of 35,700 last month from November's total of 36,700. Analysts had expected the number of new mortgages approved to decline to 36,600 in December.
USD/JPY
The dollar slipped lower against Japanese yen on Tuesday, as investors eyed the outcome of Wednesday’s Federal Reserve meeting, with the bank expected to stick to its pledge to be patient on tightening monetary policy, while markets also awaited upcoming U.S. data.