Dollar holds firm against peers as investors await Fed rate cues for 2025

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Dollar holds firm against peers as investors await Fed rate cues for 2025 - Channel News Asia

Quick Summary:

TOKYO : The U.S.dollar held firm on Wednesday as investors waited to see whether the Federal Reserve will deliver a hawkish cut ahead of other major central bank meetings this week, pushing the Australian and New Zealand dollars to fresh lows.

The Australian dollar slid to $0.6310, its lowest since October 2023.It was last down 0.4 per cent at $0.6312.

Focus will fall on policymakers' new economic projections for 2025 to be released alongside the decision, namely how much further Fed officials think they will reduce rates next year.