The euro extended gains versus the dollar on Wednesday as firmer equity and commodity prices buoyed risk appetite and investors braced for a monetary policy decision from the U.S. Federal Reserve.

The euro rose as high as $1.4800, according to Reuters data, pulling away from a one-month low of $1.4623 hit in the previous session. It last traded at $1.4794 EUR=, up 0.5 percent on the day.

The euro also rose more than 1 percent against the yen to 134.32 yen. EURJPY=R

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