The dollar lost ground against the euro, yen and the Swiss franc Tuesday, as traders awaited news from meetings of the Federal Reserve and the European Central Bank. Analysts began to wonder if the central banks would provide substantial monetary stimulus, despite remarks last week by European Central Bank chief Mario Draghi, as US data pointed towards a possible pick-up in activity. “We think there is plenty of scope for disappointment,” said Paul Dales at Capital Economics. “We doubt the Fed is ready to sanction a third round of large-scale asset purchases today, while the ECB’s bark could prove louder than its bite,” he said. Draghi had pledged to do whatever was necessary to protect the euro. In foreign exchange deals, the euro rose to $1.2298 from $1.2259 in New York late Monday.
