Asia stocks inch up, dollar steadies as investors await Fed clues

Asian stocks edged up early on Wednesday after Wall Street indexes notched record highs, while the dollar was steady as investors awaited the Federal Reserve’s policy decision later in the day for more clues on its tightening plans.

South Korea’s KOSPI stood little changed and Australian stocks rose 0.9 percent as investors awaited inflation data. Price pressures are expected to remain mild, which would add to views that rates will remain at record lows for some time to come.

Japan’s Nikkei added 0.8 percent after the dollar extended an overnight rally against the yen to pull away from seven-week lows.

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