By Rae Wee

SINGAPORE (Reuters) -The dollar nudged higher on Thursday as traders scaled back bets of a U.S. rate cut in December following push back from Federal Reserve Chair Jerome Powell, pinning the yen near an eight-month low ahead of the Bank of Japan’s (BOJ) rate decision.

The day was shaping up to be another busy one for markets with the BOJ’s policy announcement due and a highly anticipated meeting between U.S. President Donald Trump and China’s leader Xi Jinping, where the two will seek to de-escalate their trade war.

Investors were still reeling from the aftermath of the Fed decision in the early Asian session, after the U.S. central bank lowered rates by 25 basis points as expected and said it will end its balance sheet drawdown on December 1.

But Powell took the punch bowl

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