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The dollar was down on Tuesday morning in Asia, remaining below a one-month high. Investors now await the start of the U.S. Federal Reserve policy meeting and its policy decision, due to be handed down on Wednesday.
The U.S. Dollar Index that tracks the greenback against a basket of other currencies inched down 0.05% to 90.442 by 13:03 AM ET (5:03 AM GMT). The index was flat at 90.517 as the Asian session got underway, after briefly climbing above 90.60 in each of the past two sessions. The 90.63-mark would have been its strongest level since May 14, 2021.
The USD/JPY pair inched up 0.03% to 110.09.
The AUD/USD pair inched down 0.01% to 0.7711 and the NZD/USD pair was up 0.21% to 0.7155.
The USD/CNY pair edged up 0.12% to 6.4043 and the GBP/USD pair inched down 0.01% to 1.4110.
Asian shares had a mixed day on Tuesday and the dollar sat near multi-week highs ahead of a much-anticipated Federal Reserve policy meeting, which investors are watching for hints of any change to the U.S. monetary policy outlook.
Japan’s Nikkei rose 1.05% and the Australian benchmark, traded up 0.93%, but Chinese blue chips fell 0.97%.
This left MSCI’s broadest index of Asia-Pacific shares outside Japan trading flat.
China’s markets were closed on Monday for a holiday, meaning this was their first response to a joint statement by the Group of Seven leaders that had scolded Beijing over a range of issues which China called a gross interference in the country’s internal affairs.
Gold was down on Tuesday morning in Asia, continuing its losses after falling to a near one-month low during the previous session. Investors now await a U.S. Federal Reserve policy decision for further clues on inflation and the central bank’s future monetary policy.
Gold futures edged down 0.12% to $1,863.60 by 12:11 AM ET (4:11 AM GMT).
The dollar, which usually moves inversely to gold, inched down on Tuesday and benchmark U.S. 10-year Treasury yields slipped below 1.50% to near a three-month low.
The Fed will open its two-day policy meeting later in the day, with its latest decision to be handed down on Wednesday.
U.S. consumer prices data, including the consumer price index, released earlier in the month, also gave the yellow metal a boost.
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