The U.S. Federal Reserve is also expected to strike a dovish stance at its policy review later in the day and dollar bears bet it could even hint at further easing down the road. The dollar index against six major currencies stood at 93.713 (DXY), having touched its lowest level since June 2018 this week. The dollar changed hands at 105.04 yen , having hit a 4 1/2-month low of 104.955 in the previous session. Its weakness stemmed from an eroding perception that U.S. economic growth would be stronger than the rest of the developed world and that investors could count on higher returns in the dollar. U.S. consumer confidence fell more than expected in July, losing steam following two months of recovery, in a fresh sign that rising COVID-19 infections are dampening consumption. Investors will be watching for any indications that the U.S. central bank will increase its purchases of longer-dated debt, implement yield caps or target higher inflation than it has previously indicated when it concludes its two-day meeting on Wednesday.