14.09.201500:44:01UTC+00US dollar dives as traders commence Fed countdown

The US dollar edged lower Monday as investors stayed on the sidelines and began the countdown to the Federal Reserve's meeting this week.

The US central bank is slated to hold its policy meeting on September 16 and 17. Markets are still betting the Fed will raise interest rates for the first time since 2006.

The greenback ended at $1.1350 per euro. Against the Japanese yen, the currency closed at ¥120.42.

Certainly, it “is the most anticipated Fed meeting in a number of years,” said analysts at ANZ.

Even the weak Chinese figures failed to rattle the market, with growth in China's investment and factory output failed to meet projections in August.