TOKYO/LONDON—The U.S. dollar sank from a one-week high against a basket of major peers on Tuesday as the mood in financial markets brightened ahead of key Federal Reserve and Bank of England (BoE) meetings this week.
The Fed is widely expected to raise its benchmark rate by 75 basis points (bps) on Wednesday, its fourth such increase in a row. But for the December meeting, futures markets are split on the odds of a 75- or 50-bps increase.
