FOREX-Dollar slips as markets brace for Fed decision

* Dollar slips, retreats from 1-mth high vs FX basket, euro

* Traders brace for Fed, c.bank seen keeping low rate pledge

* U.S. jobs data, non-manufacturing ISM due in NY session

(Adds quotes, updates prices; changes byline)

By Jessica Mortimer

LONDON, Nov 4 (Reuters) - The dollar fell broadly on Wednesday as firmer equity and commodity prices buoyed demand for the euro and perceived riskier currencies, while traders braced for a policy decision from the Federal Reserve.

The decision at 1915 GMT is the key focus for the day, with all eyes on whether the U.S. central bank will uphold its pledge to keep the Fed funds rate low for "an extended period" even as the economy shows signs of improving. [ID:nN02441229]

Analysts said the dollar may face more selling pressure if an unchanged statement gives a further lift to stocks.

"It is likely to be risk-positive if the Fed suggests rates will stay low but acknowledges that the economy is doing better. This would give a boost to equities and be negative for the dollar," said Naeem Wahid, currency strategist at Lloyds Banking Group.