Dollar steadies ahead of central bank meetings

London

THE dollar steadied in a quiet market on Wednesday, with traders appearing to be in wait-and-see mode ahead of a slew of central bank meetings, most importantly the European Central Bank on Thursday.

The euro has climbed around 14 per cent against the dollar since the start of the year. Last week it hit its strongest levels since early 2015 as investors bet on a winding-back of the ECB's stimulus programme and pushed back their expectations for further rate hikes from the US Federal Reserve.