Asia FX falls, dollar strong as Fed rate decision looms
Investing.com-- Most Asian currencies retreated on Wednesday, while the dollar sat on strong gains as markets hunkered down before the conclusion of a Federal Reserve meeting later in the day.
The currency also saw increased pressure from uncertainty over the Fed meeting this week, given that a widening gap between U.S. and Japanese yields was a key source of pain for the yen over the past year.later in the day. While the central bank is expected to hold rates, it is also set to reiterate its higher-for-longer stance- a scenario that bodes well for the dollar but poorly for Asian markets.
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