The euro is falling amid tensions around Ukraine

The euro hovered near one-month lows against the dollar and the yen on Wednesday, weighed by fears of a military conflict in Ukraine and ahead of the conclusion of US Federal Reserve meetings that could usher in an accelerated tightening of monetary policy.

The Bank of Canada is scheduled to announce its monetary policy later on Wednesday, and the Canadian dollar rose 0.21 percent in Asian transactions.

The euro fell 0.07 percent to $1.12945, after hitting 1.12640 on Tuesday evening for the first time since December 21. It settled at 128.69 yen after hitting 128.25 yen in the previous session for the first time since December 21.