FOREX

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FOREX

Investing.com - The Australian and New Zealand dollars edged higher against their U.S. counterpart on Wednesday, as sentiment on the greenback remained fragile ahead of the Federal Reserve's highly-anticipated policy decision due later in the day.

AUD/USD was up 0.17% at 0.7571.

The Fed is widely expected to raise interest rates at the conclusion of its two-day policy meeting later Wednesday and is currently seen tightening two to three times next year, but concerns over tepid inflation could alter the outlook for 2018.

The greenback also weakened amid fresh U.S. political concerns, after a Democrat candidate won a a U.S. Senate seat in Alabama, reducing the Republican camp's already narrow Senate majority.

The reduced Senate majority could make it more difficult for President Donald Trump to implement tax reform plans and other economic policies.

NZD/USD added 0.10% to trade at 0.6941, the highest since November 9.

The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was little changed at 94.00 by 02:15 a.m. ET (06:15 GMT).