Dollar Holds Near High Ahead of Fed Decision

The US dollar has reached a one-month high and is holding steady ahead of a Federal Reserve interest rate decision on Wednesday.

The dollar index, which measures the currency against a basket of peers, eased 0.15 percent to 101.27, but remained near its peak since June 25th when it touched 101.63.

The euro is nursing losses after falling to a one-month low in the previous session and has only managed to inch up 0.14 percent to $1.1401.

The Australian dollar, on the other hand, slid after data showed domestic consumer prices rose at a slower pace in the June quarter, which reduced the chance of further rate hikes from the Reserve Bank of Australia.