After delivering four consecutive 75 basis points hikes, the US central bank is widely expected to increase interest rates by 50 basis points as it concludes its two-day meeting on Wednesday.
The dollar index, which measures the greenback versus six major currencies, fell 0.067% to 104.000, having slid 0.9% overnight. The deceleration in CPI inflation supports the case for the FOMC to taper the increase in the Funds rate to 50 basis points, said Carol Kong, a currency strategist at Commonwealth Bank of Australia .
US consumer prices rose less than expected for a second straight month in November, with underlying consumer prices advancing by the least in 15 months, the report from the Labour Department on Tuesday showed.
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