Dollar rises ahead of Fed’s new policy
The dollar rose in Asian trade on Wednesday driven by a tech crackdown in China and caution before the Federal Reserve’s latest policy decision. However, the greenback remained below recent peaks.
The U.S. Dollar Index that measures the greenback against other major currencies edged up 0.06% to 92.493.
The USD/JPY pair climbed 0.03% to 109.80.
The AUD/USD pair fell 0.09% to 0.7353, while the NZD/USD pair jumped 0.01% to 0.6955.
The USD/CNY pair shed 0.05% to 6.5074, and the GBP/USD pair slid 0.04% to 1.3868.
Investors continued to focus on today’s Chinese shares’ performance and the Fed decision coming out later in the day.
The dollar rallied for a month following the central bank’s surprise hawkish shift in its monetary policy in June. Investors are now looking for clues on asset tapering and interest rate hikes from Fed’s new policy.