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Dollar edges down ahead of Fed meeting

The dollar comes under pressure after weak US housing figures, as traders await the start of the Federal Reserve's latest policy meetingThe dollar was under pressure Monday following weak US housing figures, as traders await the start of the Federal Reserve’s latest policy meeting. Currency traders are now focusing on the Fed’s two-day policy meeting that starts Tuesday. “The Tokyo market has taken over the dollar’s selling sentiment from New York late last week,” said Yosuke Hosokawa, head of the forex sales team at Sumitomo Mitsui Trust Bank.

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