Greenback eases as traders wait for Fed policy clues

Greenback eases as traders wait for Fed policy clues

On Wednesday, the evergreen buck eased, with market participants looking past an expected American rate lift later in the day for fresh clues on Fed policy for the rest of 2017.

Against the Japanese yen, the greenback lost 0.1%, hitting 109.98, while the common currency added 0.1%, trading at $1.1217.

The Fed’s expected to announce its monetary policy verdict on Wednesday, at the end of a two-day policy gathering.

The Fed might also provide more clues on how it actually intends to cut its holdings of more than $4 trillion in Treasuries as well as mortgage-backed securities.

Financial experts surveyed by Reuters are assured that the American major bank will raise its benchmark rate to a target range of 1.00-1.25% already this week, although expectations for further rate hikes are fading.

Meanwhile, investors and experts turn to be divided over whether China's major financial institution will follow the Fed and lift its short-term rates or not.

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