Dollar index rebounds ahead of Fed decision; signals from Fed Chair Powell's post-meeting speech eyed

The US dollar index rebounded in Asian trades on Wednesday ahead of Federal Reserve decision on interest rates later in the global day. Investors will also be looking forward to any signals from Fed Chair Jerome Powells speech at the post-meeting conference regarding the pace of future easing. US President Donald Trump stated in South Korea on Wednesday that the Federal Reserve will not raise interest rates. President Trump also noted that Chinese President Xi will arrive tomorrow, expressing optimism that the meeting will result in a great deal for both the US and China, which could also support the greenback. Besides, the ongoing US government shutdown has entered its fifth week, delaying the release of key economic data. The dollar index that measures the greenback against a basket of currencies is quoting at 98.72, up 0.27% on the day.

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