Dollar steady against peers as Fed rate cut looms

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Dollar steady against peers as Fed rate cut looms - Channel News Asia

Quick Summary:

TOKYO : The U.S.dollar held steady against the yen and other major rivals on Wednesday as investors waited to see whether the Federal Reserve will deliver a hawkish cut before the Bank of Japan and other central banks meet this week.

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

Elsewhere, the offshore yuan traded at 7.2885 per dollar, not far from a 13-month low touched against the dollar on Tuesday amid dour expectations for Chinese economic growth.