FXstreet.com (Barcelona) - In a quiet day, dollar traded inside narrow ranges against most rivals, ahead of FOMC meeting decision Wednesday afternoon in the U.S.; traderÂ´s expectations are on whether Fed will go ahead and buy Treasury's beginning the quantitative easing process. Investors are still not ready to take much risk and continue taking profits in the short term.
Strong housing reports in the U.S., helped stocks close the American session with solid gains. Building Permits rose by 3% to 547K and the housing starts rose to 583K, much more than 480K that was expected. However, Wall Street still needs to face the key 8000 points level (Tuesday close leave it close to 7400) to see more confidence in markets. Yen fell after BOJ confirmed expectations it's considering providing Y1 trillion in subordinated loans to financial firms - latest move by policy makers to pump funds into banks and encourage them to lend to wider economy.