Investing.com – The US dollar changed little in Asia on Wednesday, as traders wait for a report of the January Fed meeting scheduled for later in the day.
At its January 30 meeting, the central bank kept its rates unchanged and said it was patient in the face of further rate hikes.
"First, (the Fed) has actually ruled out any rate hike this year," said Darrell Delamaide of Investing.com. "Now the message is that the Fed will not reduce its balance sheet much more than it has already done and will keep it at quite high levels."
"It could even continue to soften quantitatively – buying bonds with a currency created from scratch – as a new tool for monetary policy rather than as a simple measure of urgency."
The last was traded at 96.393, at 1:37 am ET (6:37 GMT), up 0.05%.
The pair was up 0.2% at 110.84. The Japanese currency was raised on Tuesday after Bank of Japan Governor Haruhiko Kuroda told the Japanese parliament that the central bank would consider further easing if a stronger yen threatened to lower prices and activity. .
"The BOJ does not have many options, even if it wanted to act, but the global trend – starting with the US, Europe and Australia – is moving towards transparency of the central bank and the position of the BOJ is in line with the trend, "said Koji Fukaya, chairman of FPG Securities, in a Reuters report.
The pair lost 0.4% to 6.7258. Frances Cheung, a Westpac analyst, said in a note cited by FXStreet.
"The USD / CNY is likely to trade in the ranges, with an upside risk, while we remain cautious about the development of trade relations between the United States and China," he said. said Cheung.
Another round of trade talks between China and the United States began this week in Washington, after the end of the last meeting without any agreement. Earlier this week, US President Donald Trump said the talks with China were going "very well."
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