(MENAFN- FxPro) The euro and the yen dipped against the dollar on Wednesday ahead of the Federal Reserve's rate statement later in the day, which it was hoped would contain clues on the timing of an initial rate hike.
EUR/USD eased 0.10% to 1.1047 from 1.1021 late Tuesday.
USD/JPY edged up to 123.62, from overnight lows of 123.33.
Investors were waiting to see if Fed policymakers will give any indication on the timing or pace of future interest rate increases.
Fed Chair Janet Yellen has said the central bank could raise rates as soon as September if the economy continues to improve as expected.
The U.S. was to release figures on second quarter growth on Thursday, which were expected to show that the economy rebounded following a contraction in the first quarter after an unusually harsh winter.
Data on Tuesday showed that U.S. consumer confidence unexpectedly deteriorated this month.
The Conference Board, a market research group, said its index of consumer confidence fell to 90.9 this month from a downwardly revised 99.8 in June. Economists had forecast a reading of 100.0.
A less optimistic outlook for the labor market, as well as uncertainty and volatility in financial markets prompted by the situation in Greece and China sapped investor sentiment, the report said.
Other reports on Tuesday showed that U.S. house price growth stalled in May, while activity in the service sector picked up this month.
The U.S. dollar index, which measures the greenback's strength against a trade-weighted basket of six major currencies, was at 96.86, holding above Monday's two-week lows of 96.28.
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