The dollar moved slightly lower on Wednesday ahead of a much-anticipated rate decision by the Federal Reserve later in the day, while sterling slid on increased bets the Bank of England (BoE) will pause its historic run of interest rate hikes.
The U.S. dollar index, which measures the currency against a basket of rivals, inched about 0.3% lower to 104.91 with traders awaiting the Fed’s rate decision.
The pound was flat against the dollar at $1.2389 after touching its lowest in almost four months following data showing UK inflation slowed more than expected in August
Source: CNBC
