Euro turns positive vs dollar ahead of Fed decision

NEW YORK, July 31 Wed Jul 31, 2013 10:58am EDT

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NEW YORK, July 31 (Reuters) - The euro recouped losses against the dollar on Wednesday, turning positive in late morning trading, as investors lightened positions ahead of the Federal Reserve's statement this afternoon.

It is still uncertain whether the Fed will mention again a timeframe for reducing in its bond-buying program, although many believe the U.S. central bank will stay the course for now despite Wednesday's solid U.S. economic data.

The euro was last slightly higher on the day at $1.3263 , rising from session lows of $1.3213 hit during the release of U.S. gross domestic product data.