NEW YORK (Dow Jones)-- The dollar Wednesday gained modestly against the euro and markedly against the yen as investors took some anti-greenback bets off the table ahead of an afternoon announcement of a possible fresh round of Federal Reserve stimulus.
Better-than-expected U.S. economic data helped the dollar gain traction against most of its rivals, while U.S. stocks' dip into the red also led some investors toward the safe-harbor greenback.
But attention was fixed on the policymaking Federal Open Market Committee's expected announcement of asset purchases to jolt the U.S. economy. A resumption of so-called quantitative easing would weigh.
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