NEW YORK (MarketWatch) -- The dollar turned slightly lower against the euro and a basket of major currencies in midday trading Wednesday as traders adjusted positions ahead of the Federal Reserve meeting in a couple hours. Data on positioning shows traders aren't necessarily short yet, said Alan Ruskin, global head of G-10 FX strategy at Deutsche Bank. "Just getting the FOMC [Federal Open Market Committee] meeting out the way could provide a little more license for dollar bulls." The dollar index DXY +0.01% , which measures the U.S. unit against a basket of six currencies, turned down to 77.016 from 77.089 in North American trade late Tuesday. The euro EURUSD +0.33% turned up to $1.3745, from $1.3705 late Tuesday and after spending most of the European session under $1.37.
