US dollar holds near two-week high ahead of central bank decisions

The US dollar maintained its gains on Wednesday, holding near a two-week high as markets awaited monetary policy decisions from several major central banks, including the US Federal Reserve.

The dollar index, which measures the greenback against a basket of six major currencies, stood at 102.40 points, remaining close to its highest level since October 14.

The euro traded at $1.1124, while the British pound slipped 0.1% to $1.32945.

The dollar fluctuated against the Japanese yen before settling at 157.945 yen.

The Australian dollar rose 0.1% to $0.70345 after data showed inflation climbed to 1.3% in the third quarter, up from 0.6% in the previous quarter.

The New Zealand dollar dropped as much as 1.7%, hitting a session low of $0.55831 after the Reserve Bank of New Zealand unexpectedly kept interest rates unchanged at 2.75%.

Meanwhile, the US dollar gained 0.1% against the Canadian dollar to trade at 1.4063 Canadian dollars ahead of the Bank of Canada's interest rate announcement.