Key facts
- Dollar holds steady at a two-week high.
- Fed expected to keep rates unchanged.
- RBNZ widely expected to hike interest rates.
- Fed funds futures price a 91% probability of a Fed rate hold.
The dollar held its ground at a two-week high early on Wednesday, with investors awaiting key policy decisions from central banks. The US Federal Reserve is widely expected to maintain current interest rates but provide signals on the likelihood of a December rate hike. Meanwhile, the Reserve Bank of New Zealand is anticipated to raise its interest rates. The euro and British pound remained flat against the dollar, while the greenback edged higher against the yen. The dollar index, a measure of the dollar's strength against a basket of major currencies, had risen to its highest level since October 14 on Tuesday.