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Dollar picks up ahead of Fed meeting as oil prices sink

The dollar extends its gains against the euro, hitting another 12-year high ahead of a Federal Reserve policy meeting this weekThe dollar extended its gains against the euro Monday, hitting another 12-year high ahead of a closely watched Federal Reserve policy meeting this week, while oil prices fell again as US supplies continued to build. Shanghai was the stand-out stock market in the region, adding to last week’s gains after Chinese Premier Li Keqiang said the government had enough armoury to support the world’s number two economy. Investors are keeping their focus on the Fed’s policy meeting Wednesday, hoping it will give a clearer timeline for when it will lift interest rates as the US economy picks up strength.

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