The dollar held steady on Wednesday, largely in a wait-and-see mode as traders l...
TOKYO - The dollar held steady on Wednesday, largely in a wait-and-see mode as traders looked ahead to the outcome of the Federal Reserve’s meeting later in the day when policymakers are expected to cut interest rates for the first time since 2008.
With markets predicting the Fed to reduce its key rate by 25 basis points, the main focus was on whether it would leave the door open for further policy easing in a bid to insulate the world’s largest economy from slowing global growth and the fallout of trade conflicts. “Any vague policy references would provide the dollar with an extra lift as it would further temper excessive easing hopes.”
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