The major currency pairs were trapped within very narrow ranges on Wednesday as markets awaited the outcome of the crucial Federal Reserve meeting being held in Washington DC.
The Nikkei index had a solid tone during Asian trading with an advance of close to 2% which provided some dollar support as it attempted to extend gains against the yen. Most Asian bourses registered a more subdued tone which held back the US currency as USD/JPY stalled close to the 95.50 area and it drifted back towards 95 with a reluctance to commit additional funds. Read the rest of this entry »