Euro Consolidates Near Monthly Low as Markets Await Fed Decision

The euro is treading water near its lowest level this month against the dollar, with EUR/USD changing hands in the mid-1.1300s during the Asian session on Tuesday.

Market participants are holding back from taking large positions before the U.S. Federal Reserve concludes its two-day policy meeting. The outcome is expected to provide fresh direction for the greenback.

Until then, the pair remains trapped in a tight range just above 1.1350, with the monthly trough acting as immediate support.