Dollar trades in tight ranges ahead of Fed meeting

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Associated Press

Posted on September 10, 2012 at 11:01 AM

Updated Monday, Sep 10 at 11:01 AM

NEW YORK (AP) — The dollar is trading in tight ranges against most other major currencies ahead of a Federal Reserve meeting later this week.

Traders are waiting to see if the central bank will announce additional steps to help the U.S. economy at the end of its two-day meeting on Thursday.

Fed Chairman Ben Bernanke said in a speech in late August that the bank can do more to help the U.S. economy rebound.

The euro slipped to $1.2790 in afternoon trading from $1.2795 late Friday.

The British pound rose to $1.6012 from $1.6004.

The dollar fell to 78.25 Japanese yen from 78.29 yen and to 0.9450 Swiss franc from 0.9457 Swiss franc.

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