- POSTED: 14 Dec 2013 07:52
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Key forex market rates were almost unchanged on Friday as traders looked ahead to next week's critical policy meeting of the US Federal Reserve, and whether it will cut back its stimulus.
NEW YORK: Key forex market rates were almost unchanged on Friday as traders looked ahead to next week's critical policy meeting of the US Federal Reserve, and whether it will cut back its stimulus.
The dollar edged a little higher against the euro, after a day trading in a narrow range.
Around 2300 GMT, the euro was at $1.3738, down from $1.3752 late Thursday.
The dollar bought 103.23 yen, down from 103.36, while the euro was at 141.81 yen, down from 142.15.
Analysts were split on whether the Fed would begin cutting its $85 billion a month bond-buying program at its meeting on Tuesday and Wednesday.
Some say the decision, supported by improving economic data, could be put off until late January.
It will likely be small at first, whatever the case, many said.
"Taper or not, the Fed will likely introduce a modification or addition to the forward guidance," said Shushanik Papanyan at BBVA Research.
"The choices laid out by the FOMC are introduction of an inflation floor of 1.5 per cent or reduction of the threshold of the unemployment rate."
The British pound slipped to $1.6298 from $1.6350. The dollar was little changed at 0.8895 Swiss franc.