Dollar flat ahead of Fed announcement

AP News
Posted: Aug 01, 2012 1:45 PM

NEW YORK (AP) — The dollar is trading in tight ranges against other major currencies as traders wait for news from the Federal Reserve.

Traders are looking to see if the central bank will hint at new stimulus efforts to help boost the U.S. economy. The statement is expected late Wednesday afternoon, after the Fed finishes up its two-day policy meeting.

The euro slipped to $1.2302 in afternoon trading Wednesday from $1.2304 late Tuesday.

The British pound fell to $1.5609 from $1.5681. The dollar rose to 0.9766 Swiss franc from 0.9760 Swiss franc.

The dollar was unchanged at 78.12 Japanese yen.