Asia FX treads water as Fed meeting looms, dollar inches higher.
Most Asian currencies moved little on Wednesday in anticipation of a Federal Reserve meeting, while the dollar crept higher as markets positioned for an interest rate hike and a potentially hawkish message from the central bank.
The dollar firmed slightly against a basket of currencies, with the dollar index and dollar index futures advancing about 0.1% each.
The Federal Reserve is broadly expected to hike interest rates by 25 basis points, after U.S. inflation retreated over the past few months. But comments from Fed Chair Jerome Powell on the path of monetary policy will be closely watched, given that recent data signaled some resilience in the U.S. economy.
