The U.S. dollar is holding near a one-week low against key peers as markets await a predicted interest rate cut from the Federal Reserve. Investors brace for potential shifts as the Fed's decision looms large.

After comments from U.S. Treasury Secretary Scott Bessent, the dollar weakened against the Japanese yen, as Bessent hinted at Japan's openness to rate hikes by the Bank of Japan. Meanwhile, Australia's dollar rose against initial declines, fueled by unexpected consumer price data, which cast doubt on future rate reductions by its central bank.

Currency markets are also on edge over a meeting between U.S. President Trump and China's Xi Jinping, which could impact trade tariffs and rare-earth export curbs. The ECB is expected to maintain its rates, adding another element to the globa

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