Peace Talks Send Euro Higher, Overshadowing Expected Fed Rate Hike

Peace Talks Send Euro Higher, Overshadowing Expected Fed Rate Hike
A picture illustration of euro banknotes, on April 25, 2014. Dado Ruvic/Reuters
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LONDON—The euro jumped on Wednesday, set for its third consecutive day of gains, after Russian Foreign Minister Sergei Lavrov said peace talks with Ukraine were not easy but there was hope for compromise.

In a busy day for markets, a stronger euro and Chinese yuan overshadowed the dollar index, which fell ahead of a Federal Reserve policy announcement with markets expecting the central bank to hike interest rates for the first time in three years.