US dollar down ahead of Fed policy decision

Singapore

THE US dollar softened in Asia on Wednesday on expectations that the US Federal Reserve will delay an interest rate hike following fresh data pointing to slowing growth in the world's biggest economy, analysts said.

The greenback fell to 118.83 yen in afternoon trade from 118.88 yen in New York, while it is sharply down from the 119.10 yen earlier on Tuesday in Asia. And while the euro edged down to US$1.0964 and 130.29 yen from US$1.0981 and 130.55 yen in US trade, it is well up from US$1.0880 and 129.54 yen earlier on Tuesday.