US$ subdued as market awaits Fed rate message

London

THE US dollar was subdued in European trade on Wednesday, staying range-bound ahead of an expected US Federal Reserve interest rate hike with investors' eyes peeled for clues on the bank's future monetary policy.

Fed fund futures price in a more than 90 per cent chance of a rise in rates on Wednesday, and attention is now focused on whether the US central bank is now on course for regular rises in the months and years ahead.