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US Dollar on back foot as traders look to Fed for cut timing clues
The dollar remained on the back foot versus major rivals on Wednesday, as traders braced for the conclusion of a Federal Reserve policy meeting and clues on when the U.S. central bank will begin cutting interest rates. The U.S. currency edged lower to 145.385 yen in early Asian trading, adding to its 0.5 per cent loss from the previous session. It was also down slightly against the euro at $1.0798, after losing about 0.28 per cent on Tuesday. The dollar index - which gauges the dollar against the euro, yen and four other counterparts - was steady at 103.82 following a 0.31 per cent drop overnight. Fed officials give ... (full story)