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2018.09.2513:48:00UTC+00Dollar Little Changed Ahead Of Fed Announcement

The dollar is turning in a mixed performance against its major rivals Tuesday afternoon, but remains little changed overall. Traders are in a cautious mood ahead of tomorrow's policy decision from the Federal Reserve. The Fed is widely expected to raise interest rates by a quarter point Wednesday afternoon.

Meanwhile, consumer confidence in the U.S. unexpectedly saw a continued improvement in the month of September, according to a report released by the Conference Board on Tuesday. The Conference Board said its consumer confidence index climbed to 138.4 in September from an upwardly revised 134.7 in August.

Economists had expected the consumer confidence index to drop to 131.7 from the 133.4 originally reported for the previous month.

The dollar dropped to a low of $1.1792 against the Euro Tuesday, but has since bounced back to around $1.1765.

Germany's wholesale price inflation accelerated in August largely driven by fuel cost, the Federal Statistical Office reported Tuesday. Wholesale price inflation rose to 3.8 percent in August from 3.6 percent in July. This was the fastest increase in wholesale prices since April 2017.

French manufacturing sentiment deteriorated in September, survey results from the statistical office Insee showed Tuesday. The manufacturing sentiment index fell to 107 in September from 110 in August. This was the lowest score since March 2017 and well below forecast of 109.

The buck has fallen to around $1.3165 against the pound sterling Tuesday, from an early high of $1.3094.

Members of the Bank of Japan's monetary policy meeting said that Japan's economic expansion is continuing at an acceptable pace, minutes from the bank's meeting on July 30 and 31 revealed on Tuesday.

At the meeting, the central bank retained its massive monetary stimulus as expected, including the -0.1 percent interest rate on current accounts that financial institutions maintain at the bank.

"The staff explained that one option would be to indicate that the Bank intended to maintain the current extremely low levels of short- and long-term interest rates for an extended period of time, taking into account uncertainties regarding economic activity and prices," the minutes said.

The greenback slipped to a low of Y112.741 against the Japanese Yen Tuesday, but has since rebounded to around Y112.910.

Producer prices in Japan were up 1.3 percent on year in August, the Bank of Japan said on Tuesday - exceeding expectations for an increase of 1.1 percent, which would have been unchanged from the July reading.

On a monthly basis, producer prices were unchanged after rising 0.1 percent in the previous month.

Japan's leading index fell less-than-estimated in July but reached its lowest score since late 2016, final data from the Cabinet Office showed Tuesday.

The leading index, which measures the future economic activity, dropped to 103.9 in July from 104.6 in June. The reading was above the preliminary estimate of 103.5 but the lowest score since November 2016.



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