TOKYO, Dec 13 Reuters The dollar ticked up slightly versus major rivals on Wednesday, as traders braced for the conclusion of a Federal Reserve policy meeting that could provide clues on when the U.S. central bank will begin lowering interest rates.
China39;s yuan edged down after an agendasetting meeting of the country39;s top leaders failed to deliver strong stimulus measures to shore up economic growth.
New Zealand39;s dollar slumped after softerthanexpected inflation data suggested its central bank may not have to follow up on its threat to hike rates.
The U.S. dollar index , which gauges the currency against six leading counterparts, added 0.1 to 103.86 as of 0540 GMT, recouping a little of its 0.31 drop overnight.
The dollar rose 0.07 to 145.555 yen , following a 0.5 decline in the previous session. It rose slightly against the euro to 1.0789, after losing about 0.28 on Tuesday. It also edged up against sterling to 1.2554.
Fed officials will give updated economic and interest rate projections later in the day following a meeting where analysts and investors expect rates to stay on hold, and investors will focus on how the central bank sees the economy holding up.
In particular, investors will be watching to see if Fed Chair Jerome Powell pushes back against the prospect of interest rate cuts in the first half of 2024.
Recent signs have pointed to a soft landing, but data overnight showed consumer prices unexpectedly rising in November.
Traders currently…