Investing.com - The dollar held steady against the other majors currencies on Wednesday, as markets were jittery ahead of the Federal Reserve’s long-awaited monetary policy decision due later in the day.
EUR/USD was little changed at 1.0631.
The Fed is widely expected to hike rates for the first time in a year on at the conclusion of its meeting later Wednesday.
The U.S. central bank will also announce updated economic forecasts and markets will be watching closely for signals on the outlook for inflation and the expected pace of rate hikes in 2017.
Investors remained wary amid concerns that the Fed could strike a cautious tone on the outlook for policy tightening next year.
Higher rates boost the dollar by making the currency more attractive to yield-seeking investors.
Elsewhere, GBP/USD held steady at 1.2647.
Earlier Wednesday, the U.K. Office for National Statistics said the unemployment rate remained unchanged at an 11-year low of 4.8% in the three months to October, in line with forecasts.
The claimant count rose by 2,400 in November, compared to expectations for a increase of 5,500 people, and following an increase of 13,300 a month earlier.
Meanwhile, the average earnings index, including bonuses, rose by 2.5% in the three months to October, compared to forecasts for an increase of 2.3%.
Excluding bonuses, wages rose by 2.6%, beating forecasts for a 2.5% gain.
USD/JPY was almost unchanged at 115.19, while USD/CHF slipped 0.10% to 1.0108.
The Australian dollar was steady, with AUD/USD at 0.7497, while NZD/USD edged up 0.08% to 0.7210.
Meanwhile, USD/CAD slipped 0.12% to trade at 1.3115, just off the previous session’s two-month low of 1.3104.
The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was little changed at 101.02.