The dollar extended gains against the Japanese yen for a third session late Thursday but was mostly range bound ahead of next week highly anticipated Federal Open Market Committee meeting.The ICE U.S. Dollar index DXY, +0.02% which measures the dollar’s strength against a basket of six currencies, was down 0.6% to 95.48.
The main action was in Latin America, where the Brazilian real tumbled against the dollar after Standard & Poor’s Ratings Services downgraded the country’s sovereign debt into junk territory. At one point, the Brazilian currency BRLUSD, -0.0545% shed 2.5% of its value to trade at 3.90 to the dollar. It trimmed some of its losses to trade at 3.86 to the dollar late Thursday in New York.
The dollar USDJPY, +0.17% was up 0.3% from its level Wednesday evening in New York to ¥120.60. The euro EURUSD, +0.0266% was down 0.5% at $1.12.
After rising to a session high of $1.5449, the pound GBPUSD, +0.0065% trimmed its gains and settled around $1.5338.
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